Question
Apply a regression-based forecasting model using the attendance from 1997-2002 (i.e., not rolling regression) to generate predictions for each month of 2003 that accounts for
Apply a regression-based forecasting model using the attendance from 1997-2002 (i.e., not "rolling regression") to generate predictions for each month of 2003 that accounts for both:
(1) the general downward trend in attendance and (2) seasonality. Compute the mean absolute deviation (MAD) of the forecast errors for 2003. (please round to the closest whole number)
| Year | Month | Attendance: Phantom Of The Opera |
| 1997 | 1 | 48241 |
| 1997 | 2 | 47442 |
| 1997 | 3 | 61929 |
| 1997 | 4 | 49939 |
| 1997 | 5 | 49103 |
| 1997 | 6 | 62617 |
| 1997 | 7 | 48731 |
| 1997 | 8 | 63147 |
| 1997 | 9 | 44623 |
| 1997 | 10 | 47854 |
| 1997 | 11 | 58117 |
| 1997 | 12 | 49582 |
| 1998 | 1 | 48411 |
| 1998 | 2 | 49184 |
| 1998 | 3 | 62259 |
| 1998 | 4 | 48761 |
| 1998 | 5 | 58877 |
| 1998 | 6 | 48727 |
| 1998 | 7 | 47831 |
| 1998 | 8 | 59759 |
| 1998 | 9 | 42394 |
| 1998 | 10 | 48289 |
| 1998 | 11 | 58828 |
| 1998 | 12 | 49151 |
| 1999 | 1 | 58816 |
| 1999 | 2 | 44063 |
| 1999 | 3 | 45694 |
| 1999 | 4 | 48395 |
| 1999 | 5 | 57039 |
| 1999 | 6 | 47076 |
| 1999 | 7 | 45297 |
| 1999 | 8 | 59088 |
| 1999 | 9 | 40147 |
| 1999 | 10 | 55407 |
| 1999 | 11 | 43413 |
| 1999 | 12 | 44463 |
| 2000 | 1 | 52690 |
| 2000 | 2 | 45973 |
| 2000 | 3 | 48846 |
| 2000 | 4 | 61591 |
| 2000 | 5 | 44835 |
| 2000 | 6 | 44924 |
| 2000 | 7 | 53819 |
| 2000 | 8 | 44785 |
| 2000 | 9 | 37398 |
| 2000 | 10 | 50258 |
| 2000 | 11 | 41547 |
| 2000 | 12 | 53517 |
| 2001 | 1 | 45223 |
| 2001 | 2 | 44576 |
| 2001 | 3 | 45542 |
| 2001 | 4 | 60163 |
| 2001 | 5 | 42162 |
| 2001 | 6 | 43490 |
| 2001 | 7 | 54132 |
| 2001 | 8 | 45279 |
| 2001 | 9 | 33231 |
| 2001 | 10 | 36014 |
| 2001 | 11 | 34536 |
| 2001 | 12 | 48928 |
| 2002 | 1 | 39885 |
| 2002 | 2 | 42887 |
| 2002 | 3 | 55723 |
| 2002 | 4 | 39980 |
| 2002 | 5 | 36962 |
| 2002 | 6 | 50719 |
| 2002 | 7 | 45134 |
| 2002 | 8 | 46564 |
| 2002 | 9 | 43494 |
| 2002 | 10 | 37235 |
| 2002 | 11 | 35313 |
| 2002 | 12 | 52173 |
| 2003 | 1 | 36906 |
| 2003 | 2 | 32260 |
| 2003 | 3 | 44107 |
| 2003 | 4 | 43868 |
| 2003 | 5 | 39131 |
| 2003 | 6 | 55393 |
| 2003 | 7 | 46245 |
| 2003 | 8 | 56991 |
| 2003 | 9 | 34464 |
| 2003 | 10 | 42106 |
| 2003 | 11 | 50085 |
| 2003 | 12 | 41936 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Operations Management
Authors: R. Dan Reid, Nada R. Sanders
4th edition
9780470556702, 470325046, 470556706, 978-0470325049
