Question: Question 1 . ( 1 0 0 points ) The OFLT Trucking Company needs to determine whether they would increase their fleet size or not.

Question 1.(100 points) The OFLT Trucking Company needs to determine whether they would increase their fleet size or not. Since their ultimate objective is to satisfy the certain percentage of nationwide transportation demand, they obtained the following data representing total transportation demand in billions of dollars. (You can copy tables into Excel)Table 1. Demand for transportationYear Total transportation demand 1980332.61985486.41990598.31991595.81992638.01993682.71994742.01995772.11996828.11997896.41998931.119991,009.420001,059.920011,052.620021,075.420031,097.320041,160.520051,248.220061,312.420071,391.120081,359.720091,175.620101,320.220111,467.120121,560.520131,608.020141,661.120151,630.620161690.5Source: U.S. Department of Commerce, Bureau of Economic Analysisa) Plot the time series data and comment on the pattern you observe.b) Use weighted moving average method to forecast the demand for 2017.c) Use exponential smoothing with optimal to forecast the demand for 2017.d) Use regression method to forecast the demand for 2017-2020.e) Compute the following measures of forecast accuracy: mean absolute error (MAE), mean squared error (RMSE), mean absolute percentage error (MAPE) for your forecasts in parts b, c and d.f) Determine the most accurate forecast method and estimate the demand for 2017.

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