Brothers Willie and Billie each own a gas station for the same national chain. As brothers, they
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Question:
Brothers Willie and Billie each own a gas station for the same national chain. As brothers, they are very competitive. They held a contest to see who could do a better job forecasting sales for their station over the course of a year. Willie used a four-week moving average; Billie used a two-week moving average.
Willie's Petrol Park | |
Week | Sales (1000s of gallons) |
1 | 17 |
2 | 21 |
3 | 19 |
4 | 23 |
5 | 18 |
6 | 16 |
7 | 20 |
8 | 18 |
9 | 22 |
10 | 20 |
11 | 15 |
12 | 22 |
Billie's Gasoline Grotto | ||
| Sales (1000s of gallons) | |
1 | 85 | |
2 | 84 | |
3 | 76 | |
4 | 69 | |
5 | 54 | |
6 | 80 | |
7 | 100 | |
8 | 54 | |
9 | 88 | |
10 | 80 | |
11 | 60 | |
12 | 66 |
a. Create the forecasts for each gas station.
b. Which error calculation would be the best to use in this contest? Why?
c. Who won the contest?
Related Book For
Probability and Statistics for Engineers and Scientists
ISBN: 978-0495107576
3rd edition
Authors: Anthony Hayter
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