1. A hotdog stand owner who sales hotdogs only on Saturdays has collected the following time series data on the number of hotdogs sold over the past 12 quarters.
Year Quarter Demand
1 Winter 29
1 Spring 65
1 Summer 56
1 Fall 45
2 Winter 23
2 Spring 57
2 Summer 48
2 Fall 32
3 Winter 14
3 Spring 55
3 Summer 52
3 Fall 25
A) Forecast next weekly rate using a 3 period moving average.
B) Forecast the next weekly rate using a 2 period moving average. Which one of these (A or B) is a better forecast and why? Please explain it in writing.
C) Forecast the next weekly rate by using exponential smoothing with an alpha value of 0.3.
D) Forecast the next weekly rate by using a linear regression.
The Assignment has to be completed in Excel using the Add in XLSTAT.
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