Question: Please Show ALL Steps! Thank You. Problem 1. (10 points) A manager recorded the number of gallons of ice cream sold for the past six

Please Show ALL Steps! Thank You. Problem 1. (10

Please Show ALL Steps! Thank You.

Problem 1. (10 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 0.6 and 0.4. a) Which model is better for this data set (hint: show all your work and calculations using measures of forecast accuracy)? (9 points) b) What is the forecast of demand for period 7 considering the best model? (1 point) Period Demand 1 80 2 75 91 84 5 88 6 79 4

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