5-29 Emergency calls to Winter Park, Floridas 911 system, for the past 24 weeks are as follows:...
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5-29 Emergency calls to Winter Park, Florida’s 911 system, for the past 24 weeks are as follows:
Week Calls Week Calls Week Calls 1 50 9 35 17 55 2 35 10 20 18 40 3 25 11 15 19 35 4 40 12 40 20 60 5 45 13 55 21 75 6 35 14 35 22 50 7 20 15 25 23 40 8 30 16 55 24 65
(a) Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of 50 calls in the first week and use α = 0.1. What is the forecast for the 25th week?
(b) Reforecast each period using α = 0.6.
(c) Actual calls during the 25th week were 85. Which smoothing constant provides a superior forecast?
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Quantitative Analysis For Management
ISBN: 9789332578692
12th Edition
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna
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