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Hospitality Hotels forecasts monthly labor needs. (a) Given the following monthly labor figures, make a forecast for June using a three-period moving average and a
Hospitality Hotels forecasts monthly labor needs. (a) Given the following monthly labor figures, make a forecast for June using a three-period moving average and a five-period moving average. (Round answers to 2 decimal places, e.g. 15.25.) (b) What would be the forecast for June using the nave method? (Round answers to 2 decimal places, e.g. 15.25.) (c) If the actual labor figure for June turns out to be 41, what would be the forecast for July using each of these models? (Round answers to 2 decimal places, e.g. 15.25.) (d) Compare the accuracy of these models using the mean absolute deviation (MAD). (Round answers to 2 decimal places, e.g. 15.25.) (e) Compare the accuracy of these models using the mean squared error (MSE). (Round answers to 2 decimal places, e.g. 15.25.) MonthActual ValuesJanuary33February43March39April42May49
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