A Paso Robles wine producer wanted to forecast the cases of Merlot wine sold.The number of cases of merlot wine sold in a 28-year period was collected.Which of the following would be the most appropriate analysis to perform?
A)The Marascuilo Procedure.
B)The Tukey-Kramer Procedure.
C)Least-squares forecasting with monthly or quarterly data.
D)Exponential smoothing modeling.

Question

Quizplus · Accepted Answer

Since the objective is to forecast the cases of Merlot wine sold, exponential smoothing modeling would be the most appropriate analysis to use. This technique is used for time series forecasting and can handle both seasonality and trend in the data. Least-squares forecasting with monthly or quarterly data would also be a good choice, but it does not take into account any seasonality in the sales data. The Marascuilo Procedure and the Tukey-Kramer Procedure are used for multiple comparisons in statistical testing and are not applicable for time series forecasting.

A Paso Robles Wine Producer Wanted to Forecast the Cases