The table below shows the price of petrol for a week. Day Monday Tuesday Wednesday Thursday...

The table below shows the price of petrol for a week.

Day Monday Tuesday Wednesday

Thursday Friday Saturday Sunday

Price of Petrol (per Liter) 1.57

1.85

1.86

1.94

1.49 1.66 1.69

a) Using a 4-day Moving Average to forecast the petrol price on Saturday, and calculate the forecast error.

b) Given the exponential smoothing constant ? = 0.3, the petrol price on Saturday, and the forecast petrol price on Saturday (from (a)), forecast the petrol price on Sunday by using the exponential smoothing technique. Hence, calculate the forecast error of the petrol price on Sunday.

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

A store sold 12 stereos on Monday, 17 on Tuesday, 28 on Wednesday, 17 on Thursday...

A store sold 12 stereos on Monday, 17 on Tuesday, 28 on Wednesday, 17 on Thursday and 26 on Friday. AT the .01 level, test if there is a difference in the number of stereos sold on each weekday. State the hypotheses and identify the claim, find the critical value(s), compute the test value, make the decision and summarize the results. Show all work and formulas - sample question that I don't get.

The table below shows the number of students absent on the particular day of the week:...

The table below shows the number of students absent on the particular day of the week: Day M Tu W Th F Number 111 80 85 94 99 Test if the distribution of students absent is uniform through the week with the significance level of 5%.

The following table shows the average petrol price and the number of online shopping orders over...

The following table shows the average petrol price and the number of online shopping orders over a given month: Petrol Price and Online Shopping Average Petrol Price per gallon over a month ($) Number of Online Shopping Orders 3.8025 3,860 4.975 4,172 1.525 1,389 3.81 3,766 1.515 2,072 4.0275 3,286 4.7075 3,840 4.8725 4,688 1.7425 1,795 1.3225 1,539 The relationship between the average petrol price and the number of online shopping orders in a given month is proposed to follow...

The following table shows the average petrol price and the number of online shopping orders over...

The following table shows the average petrol price and the number of online shopping orders over a given month: Petrol Price and Online Shopping Average Petrol Price per gallon over a month ($) Number of Online Shopping Orders 1.57 1,398 4.8225 4,109 2.2725 2,257 3.42 2,644 3.2225 3,257 4.3175 3,530 1.3275 1,791 3.68 3,859 4.3025 3,544 2.065 2,173 The relationship between the average petrol price and the number of online shopping orders in a given month is proposed to follow...

1. On Monday, you consume 15 eggs and 25 wines. On Tuesday, the price of eggs...

1. On Monday, you consume 15 eggs and 25 wines. On Tuesday, the price of eggs goes up and the price of wine goes down. The Monday and Tuesday budget lines cross at (20,20). Use indifference curves to justify your answers to the following questions: a) Might you choose to consume 24 eggs on Tuesday? b) Can you determine on which day you are happier? For parts c) and d), assume that you choose to consume exactly 18 eggs on...

The table below shows this market basket and the price of each good in 2015 and...

The table below shows this market basket and the price of each good in 2015 and 2016. For the questions below, assume that 2015 is the base year. 2015 2016 Good Quantity Unit price Unit price Textbooks 7 $180.00 $210.00 Pizza 9 12.00 10.00 Beer 12 10.00 12.00 Compute the CPI in 2016 and the inflation rate between 2015 and 2016. Suppose in 2016, you buy 10 textbooks instead of 7, will your answers in (a) and (b) change? Explain...

C11 standard.... file1.txt: DAY Blackberry Blueberry Pear Mango apple Monday 60 35 32 16 30 Tuesday...

C11 standard.... file1.txt: DAY Blackberry Blueberry Pear Mango apple Monday 60 35 32 16 30 Tuesday 44 22 34 62 54 Wednesday 33 14 67 13 22 Thursday 24 44 35 15 42 Friday 36 43 24 34 29 file2.txt: DAY Milk Cheese Butter Cream Yogurt Monday 50 25 32 16 512 Tuesday 64 12 34 62 97 Wednesday 23 54 67 13 62 Thursday 34 54 25 35 127 Friday 76 23 54 24 120 Here, in the text...

A manufacturing company's weekly payroll is $800,000 for a 5-day work week beginning each Monday and...

A manufacturing company's weekly payroll is $800,000 for a 5-day work week beginning each Monday and ending each Friday. The last time salaries and wages were recorded was Friday, December 26. What adjustment is needed on December 31, the last day of the company's fiscal period? The answer is: Increase Wages Expense by $480,000 but I'm unsure how you get the number $480,000?

The table below shows the supply and demand schedules for sales of bags of chips. PRICE...

The table below shows the supply and demand schedules for sales of bags of chips. PRICE (dollars/bag) QUANTITY DEMANDED QUANTITY SUPPLIED (bags/week) $1.00 200 110 $1.25 175 130 $1.50 150 150 $1.75 125 170 $2.00 100 190 Question 1: What is the market equilibrium? Question 2: Describe the situation in the chip market if the price were $1.75 per bag. Question 3: If the price is $1.75/bag, explain how the market reaches equilibrium. Question 4: A bad year for potatoes...

the table below shows the price quantity of demanded of packaged of pure water in nigeria....

the table below shows the price quantity of demanded of packaged of pure water in nigeria. price in # = 0.5, 0.6, 0.7, 0.8, 0.8, 0.9. Quantity Demand = 160, 140, 120, 110, 90, 80. Let Xi represent the price change per unit and Yi represent the quantity demand at that price. The demand function may be postulated as; Yi =a+bXi + ei . FIND THE OLS ESTIMATE OF THE DEMAND FUNCTION AND var(a), var(b) and their respective standard error...

Subjects