Instructions i) ii) E Please use the datasets from A3 folder in the e-learning: US gasoline...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Instructions i) ii) E Please use the datasets from A3 folder in the e-learning: US gasoline demand 1995-2005.csv Please use the Google Colab notebook/Microsoft Excel to answer this question Answer ALL the questions: a. Identify which forecasting method is best to forecast the gasoline demand in US considering any existing seasonality/demand. b. Discuss why do you think the forecasted method of choice is best to applied. c. Forecast the demand for gasoline for the next 3 years (2006-2008) using the selected forecast method. d. Given the actual data is in the following table, calculate the forecast error and discuss your findings. 2006 Qtr 1 2006 Qtr 2 2006 Qtr 3 2006 Qtr 4 2007 Qtr 1 2007 Qtr 2 2007 Qtr 3 2007 Qtr 4 2008 Qtr 1 2008 Qtr 2 2008 Qtr 3 2008 Qtr 4 116941 121198 123397 121223 119205 122513 123830 120946 118149 120896 120157 116706 Instructions i) ii) E Please use the datasets from A3 folder in the e-learning: US gasoline demand 1995-2005.csv Please use the Google Colab notebook/Microsoft Excel to answer this question Answer ALL the questions: a. Identify which forecasting method is best to forecast the gasoline demand in US considering any existing seasonality/demand. b. Discuss why do you think the forecasted method of choice is best to applied. c. Forecast the demand for gasoline for the next 3 years (2006-2008) using the selected forecast method. d. Given the actual data is in the following table, calculate the forecast error and discuss your findings. 2006 Qtr 1 2006 Qtr 2 2006 Qtr 3 2006 Qtr 4 2007 Qtr 1 2007 Qtr 2 2007 Qtr 3 2007 Qtr 4 2008 Qtr 1 2008 Qtr 2 2008 Qtr 3 2008 Qtr 4 116941 121198 123397 121223 119205 122513 123830 120946 118149 120896 120157 116706
Expert Answer:
Answer rating: 100% (QA)
a The best forecasting method to forecast the gasoline demand in US considering any existing seasonalitydemand would be a seasonal decomposition of ti... View the full answer
Related Book For
Supply Chain Network Design Applying Optimization and Analytics to the Global Supply Chain
ISBN: 978-0133017373
1st edition
Authors: Michael Watson, Sara Lewis, Peter Cacioppi, Jay Jayaraman
Posted Date:
Students also viewed these databases questions
-
The major financial statements of Ten Peaks Coffee Company Inc. from its 2013 annual report are included in Exhibits 1-11A to C. Note that its fiscal year end is December 31, 2013. Required: a. Find...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
With reference to the Auditors Report, answer the following questions: The recent final audit report of an FMCG carries a line which is read as in the manner so required and respectively give a true...
-
For various reasons, fiscal policy changes automatically when output and employment fluctuate. a. Explain why tax revenue changes when the economy goes into a recession. b. Explain why government...
-
Explain the difference between coaching and counseling.
-
\(\quad-5.6 \quad-7 \quad \sqrt{26} \quad 41 \quad-\frac{13}{50} \quad-46\) Correctly place the numbers in the Venn diagram. N N R
-
A private college receives the following pledges of support. 1. As part of its annual fund drive, alumni and friends of the college pledge $8 million. The college estimates that about 15 percent of...
-
A company purchased land for $98600 cash. Real estate brokers' commission was $3500 and $7800 was spent for demolishing an old building on the land before construction of a new building could start....
-
Summarize the concept of difference in enforcement of accounting standards: Differences in countries institutional settings have long been recognized in accounting research. Countries have been...
-
the hypotheses underlying the balanced scorecard is false? EXERCISE 11-5 Return on Investment (ROI) LO11-1 Provide the missing data in the following table for a distributor of martial arts products:...
-
In two separate double slit experiments, an interference pattern is observed on a screen. In the first experiment, violet light ( = 754 nm) is used and a second-order bright fringe occurs at the same...
-
What is inventory management and control, and how can it benefit organizations?
-
In risc-v assemble language now there is input a text. example 6 7 8 9 1 5 6 7 8 8 3 3 5 7 3 each row has the same number of digits(5) and now I would like to check if any rows and columns have the...
-
Suppose that an old hospital building leaks N2O (nitrous oxide) into the air. It leaks continuously (all the time), but not at a constant rate. Suppose A(t) gives the total volume of N2O (measured in...
-
A battery of 12 V is connected across capacitors of capacitances C1-C2=C3 C4 =C7= B F, Cs = C6= F. 12 V C3 C2 C1 i. What is the equivalent capacitance Ceq of the capacitors, you should show your work...
-
Snapchat recently released a link to an augmented reality imageof Michael Jordan, which showed the basketball player wearing thenewest model of sneakers. Users could then walk aroundJordan, view the...
-
Halley's comet travels in an ellipti- cal orbit with a = 17.95 and b = 4.44 and passes by Earth roughly every 76 years. Note that each unit represents one astronomical unit, or 93 million miles. The...
-
Even though we don't have the cost of opening a warehouse in the model, what information does the model give us in terms of what this cost needs to be for these solutions to be effective?
-
Name a reason why minimizing weighted-average distance is more important than maximizing the percentage of customers within a certain distance. Now, name a reason why maximizing the percentage of...
-
Selecting the Best Two to Four Warehouse Locations for Als AthleticsMini Case Study. This hands-on example will give you your first opportunity to further your understanding of the books concepts by...
-
P Ltd bought 40,000 shares in \($1\) Ltd and 27,000 shares in \($2\) Ltd on 31 December 2002. The following balance sheets were drafted as at 31 December 2003. You are to draw up a consolidated...
-
Pops Ltd buys shares in Sub 1 and Sub 2 on 31 December 2007. You are to draft the consolidated balance sheet as at 31 December 2008 from the following: Pops Balance Sheet as at 31 December 2008 E...
-
Prepare a consolidated balance sheet from the following details as at 31 March 2006. During the year, Pa sold goods which had cost 1,900 to Daughter for 2,800. None of these goods had been sold by...
Study smarter with the SolutionInn App