Use This Information to Answer the Following Questions -Refer to the Table Above

question 52

Essay

Use this information to answer the following questions.
A hot dog stand owner has collected the following time series data on the number of hot dogs sold over the last 12 quarters.
$$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Quarter } & \text { Demand } \\\hline 1 & \text { Winter } & 29 \\\hline 1 & \text { Spring } & 65 \\\hline 1 & \text { Summer } & 56 \\\hline 1 & \text { Fall } & 45 \\\hline 2 & \text { Winter } & 23 \\\hline 2 & \text { Spring } & 57 \\\hline 2 & \text { Summer } & 48 \\\hline 2 & \text { Fall } & 32 \\\hline 3 & \text { Winter } & 14 \\\hline 3 & \text { Spring } & 55 \\\hline 3 & \text { Summer } & 52 \\\hline 3 & \text { Fall } & 25 \\\hline\end{array}$$
-Refer to the table above.Forecast next quarterly sales using a 3-period weighted moving average.Use Solver to determine the optimal weights that minimize MSE.

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Definitions:

Verbal Offer

An offer made in spoken form rather than in writing, which may be binding depending on the context and jurisdiction.

Breach of Contract

Not adhering to any provision of a contract, both in written form or orally, without a legal rationale.

Invitation to Do Business

An offer or solicitation made by a business seeking to engage with potential clients or customers.

Final Offer

The last proposal or statement of conditions one party will accept during negotiations.