Quantitative Methods (5 Stats Problem)
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I need help with the included statistics problems. These are practice problems and I am unable to get a good grasp in this area.
11. Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame:
Period Demand
1 200
2 245
3 190
4 270
5 280
6 300
Compute a 3-period moving average for period 4.
12. The following data summarizes the historical demand for a product
Month Actual demand
March 20
April 25
May 40
June 35
July 30
August 45
Use a four period moving average and determine the forecasted demand for July and August.
13. The following data summarizes the historical demand for a product
Month Actual demand
March 20
April 25
May 40
June 35
July 30
August 45
Use exponential smoothing with and the smoothed forecast for July is 32 and determine August and September's smoothed forecasts.
14. The following sales data are available for 1998-2003 inclusive:
Year Sales
1998 7
1999 12
2000 14
2001 20
2002 16
2003 25
Determine a 4-year moving average forecast for each possible year.
15. Robert has the following accounts on money spent on gambling and winnings:
Money spent Money won
1000 2500
1200 4000
11800 4500
2000 4600
2500 5000
2800 4800
3500 5600
4000 6000
4200 5800
7000 X
Using linear regression, predict x.
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Solution Summary
This solution calculates the period moving average, forecasted demand, exponential smoothing, and uses linear regression to compute the value of 'x'.
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