Question: Please answer! Thank you(: Problem 1. (8 points) A manager recorded the number of gallons of ice cream sold for the past six periods. He

Please answer! Thank you(: Problem 1. (8 points)

Please answer! Thank you(:

Problem 1. (8 points) A manager recorded the number of gallons of ice cream sold for the past six periods. He asked you to choose a forecasting model to predict the demand for gallons of ice cream in Period 7. You consider applying a two-period moving average model and a two-period weighted moving average model with weights of 0.60 and 0.40. a) Which model is better for this data set (hint: show all your work and calculations using measures of forecast accuracy)? (7 points) b) What is the forecast of demand for period 7 considering the best model? (1 point) Period Demand 1 65 2 78 3 82 4 72 5 78 6 86

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