Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand opening, the corporate office hired recruiters to sign-up


Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand opening, the corporate

Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand opening, the corporate office hired recruiters to sign-up potential members by soliciting them in the parking lot of the shopping center. Each day, they recorded the number of potential new members. Here is the data collected over the first week: DAY 1 2 3 4 5 6 7 # OF MEMBERS 72 59 68 82 99 87 104 A. Find the forecast for periods 3 to 8 using a 2-period weighted average with weights (0.2 and 0.8) B. Find the forecast for periods 2 to 8 using an exponential smoothing model with an alpha value of 0.2. Use 72 as the day 1 forecast. C. Find the Mean Absolute Deviation (MAD) for each of these forecasts. D. Based on the given data and your MAD calculation, which forecast will better predict the number of potential members in the future?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

A To find the forecast for periods 3 to 8 using a 2period weighted average with weights 02 and 08 yo... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

More Books

Students also viewed these Finance questions

Question

Why is using APA Style important for effective scholarly writing?

Answered: 1 week ago

Question

What is meant by the term cost behavior?

Answered: 1 week ago

Question

What do you think?

Answered: 1 week ago

Question

19. What does fMRI measure?

Answered: 1 week ago