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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 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?
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A To find the forecast for periods 3 to 8 using a 2period weighted average with weights 02 and 08 yo...Get Instant Access to Expert-Tailored Solutions
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