The manager of Petroco Service Station wants to forecast demand for unleaded gasoline next month so that the proper number of gallons can be ordered from distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales throughout the past 10 months:
|
Month
|
Gasoline Demanded (gal.)
|
|
October
|
800
|
|
November
|
725
|
|
December
|
630
|
|
January
|
500
|
|
February
|
645
|
|
March
|
690
|
|
April
|
730
|
|
May
|
810
|
|
June
|
1,200
|
|
July
|
980
|
a. Evaluate an adjusted exponentially smoothed forecast (with alpha = .30 and beta = .20).
b. Compare two forecasts by using MAPD and indicate which seems to be more accurate.