Explain gas prices and predictions based on current data – where can you look for this data and what’s your personal forecast for the next year? What other factors need to be considered when looking at data such as this? (Environmental factors for instance… what are they and what other factors are important?)

For the data in the Excel file Gasoline Prices, do the following:
Develop a spreadsheet for forecasting prices using a simple three-period moving average.
Compute MAD, MSE, and MAPE error measures.
FIRST – analyze the data in Excel – save your work and upload your Excel workbook as an attachment to this discussion.

NEXT – FORMAL PARAGRAPH FORMAT – discuss each of these error measures

FINALLY – Explain gas prices and predictions based on current data – where can you look for this data and what’s your personal forecast for the next year? What other factors need to be considered when looking at data such as this? (Environmental factors for instance… what are they and what other factors are important?)

Last Completed Projects