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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.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M923465

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