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A customer comment phone line is staffed from 8:00 a.m. to 4:30 p.m. five days a week. Records are available that show the number of
A customer comment phone line is staffed from 8:00 a.m. to 4:30 p.m. five days a week. Records are available that show the number of calls received every day for the last five weeks as shown in the following table. Assume the time series has seasonality without trend.
a) Solve for the forecast equation that minimizes the sum of squared error. x1=1 if Monday, 0 otherwise; x2=1 if Tuesday, 0 otherwise; x3=1 if wednesday, 0 otherwise; x4=1 if Thursday, 0 otherwise. ^t= b) Forecast the five days of week 6. Week6MondayforecastWeek6TuesdayforecastWeek6WednesdayforecastWeek6ThursdayforecastWeek6Fridayforecastcallscallscallscallscalls
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