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16. A gift shop in a tourist centre is open only on weekends (Friday, Saturday, and Sunday). The owner-manager hopes to improve scheduling of
16. A gift shop in a tourist centre is open only on weekends (Friday, Saturday, and Sunday). The owner-manager hopes to improve scheduling of part-time employees by determining seasonal relatives for each of these days. Data on recent activity at the store (sales transactions per day) are shown in the following table: LO5 Friday Saturday Sunday Week 1 2 3 5 6 149 154 152 150 159 163 250 255 260 268 273 276 166 162 171 173 176 183 a. Develop seasonal relatives for each day using the centred moving average method. b. Deseasonalize the data, fit an appropriate model to the deseasonalized data, project three days ahead, and reseasonalize the projections to forecast the sales transactions for each day, Friday to Sunday, of next week.
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