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Preferred technique for making the forecast

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Food trucks have become a common sight on American campuses. They serve scores of hungry students strolling through campus and looking for trendy food served fast. The owner of a food truck collects data on the number of students he serves on weekdays on a small campus in California. A portion of the data is shown in the accompanying table.

WeekdayStudents184266??40166

Click here for the Excel Data File

a. Use the 3-period moving average to make a forecast for Weekday 41. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

b. Use the 5-period moving average to make a forecast for Weekday 41. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

c-1. Which is the preferred technique for making the forecast based on MSE, MAD, and MAPE? (Do not round intermediate calculations. Round final answers to 2 decimal places.)

c-2. Which is the preferred technique for making the forecast?

Reference no: EM132900414

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