Using a weight of 1/2 for the most recent observation, 1/3 for the second most recent, and 1/6 for third most recent, compute a three-week weighted moving average for the time series. Use rounded for two decimal places values for intermediate colculations. Week Sales Weighted Moving Average Forecast Forecast Error (Error)2 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 Total Compute the MSE for the weighted moving average in part (a). Do you prefer this weighted moving average to the unweighted moving average?

answer: it is 8

step-by-step explanation:

you know why its 8

step-by-step explanation:

let's assume

number of candles set =x

price of of x candles =p(x)

we are given

a candle maker prices one set of scented candles at $10 and sells an average of 200 sets each week

so, we get point as (200,10)

he finds that when he reduces the price by $1, he then sells 50 more candle sets each week

so, we can find slope

now, we can use point slope form of line

now, we can plug values

we can use point

and find b

now, we can plug it back

and we get

now, we can find revenue

we know that

revenue = price*quantity

so, we get