%209%20Homework.pdf HRTM 310 Ch. 9 Demand Forecasting Method: Homework CHAPTER 9 HOMEWORK: DEMAND FORECASTING METHODS Due at 11:59 pm, Sunday November I 2020 1. Your sister owns a restaurant-Serveo down the street. She needs your help in forecasting her restaurant's weekly demand for the week 16. The weekly demand from the past 15 weeks is as shown below. Demand 525 535 518 552 557 567 Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 539 576 552 639 616 639 641 656 652 a. (6 points) Your sister thinks she should use linear regression. Do you agree with her? Why or why not? Explain your answer with supporting materials. Generate a graph that shows the 15-week demand data points and its linear regression line, using MS Office Excel and support your answer with the graph (15-weck data points and linear regression line). Provide the graph as a supporting material for your answer. b. (2 points) Determine the slope and y-intercept of the line in your linear regression. Show how you determined the values. c. (2 points) Forecast demand for week 16 using linear regression. Show your calculations. m ))) HRTM 310 Ch. 9 Demand Forecasting Method: Homework 2. You are a manager of Harris Grill with 110 seats. You have tracked the total number of meals served on a weekly basis for the past 20 weeks and the number of meals is as shown in the table below. Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Demand 499 538 489 535 547 511 489 533 502 552 512 530 515 SO2 499 511 502 535 512 528 1 (1 points) Forecast demand for week 21 using 5-week simple moving average. Show your calculations. b. (2 points) Forecast demand for week 21 using 3-week weighted moving average by appropriately choosing and assigning weights from 25%, 65% and 10%. Show your calculations c. (3 points) If you were to use the exponential smoothing method to forecast demand for week 21, would you use a high or a low alpha value? Explain why. Explain your answer with supporting material (c.g.. Generating a graph of data to support your answer). d. (2 points) You decided to use exponential smoothing method to forecast for the week 21 and also decided to use an alpha value of 0.8. Then, how much weight will be placed on the actual demand data from week 20, 19, and 18, respectively? Manually calculate the weights. Show your calculations, c. (3 points) Assume that the current period is the end of week 3 and you want to forecast demand for week 4. Manually calculate demand forecast for week 4 using simple exponential smoothing method with an alpha value of 0.8. Initialize the method by using actual demand from week 1 as forecast for week 1. Show your calculations