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Gasoline Price Example: Data are given on the 2006 monthly prices of Gasoline($/gallon). Month Jan Feb Mar Apr May Jun Jul Au

  1. Give 3 forecasts for January 2007. Be sure to label the units.

Naïve forecast: _______________

MA(2): _______________

MA(4): _______________

math   Statistics-And-Probability   
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Answer #1

Naive foreast =2.380 $/Gallon

MA(2) =(2.287+2.380)/2 =2.3335 $/Gallon

MA(4) =(2.637+2.319+2.287+2.380)/4 =2.40575 $/Gallon

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