Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please solve this problem using Exponential Smoothing for all 14 weeks in Excel showing a step by step of all the calculations and equations with
Please solve this problem using Exponential Smoothing for all 14 weeks in Excel showing a step by step of all the calculations and equations with charts and graphs. Please show the data in the missing fields for Demand, Pick-Up Ratio and DOW index for the 13 week 4th day through the last day in the 14th week. I am very unfamiliar with using Excel and I want to learn how to do this problem and others like it. Thank you so so much! I really do appreciate all your help!
Exhibit 1 Historical Demand and Reservations Data Week 1 Dow Indicator 1 Tuesday Bookings 1,512 Dow Index 0.865 2 864 3 4 5 6 7 2 2 3 4 5 6 7 3 1 2 3 4 5 6 7 4 1 2 3 4 5 6 7 Demand 1,470 870 986 1,247 1,109 1,197 1,500 1.854 1,489 1,792 1,708 1,787 1,314 1,136 1,537 1,132 1,368 1,488 1,392 1,321 1,469 1,795 1,780 1,841 1.774 1,835 1,847 1.833 1,847 1.680 1,680 1,798 1.843 1,322 1,022 1,298 956 1,236 1,306 1,176 1,134 1,164 1,486 870 1,392 1,747 1,861 1,797 1,719 1,729 1,251 1,682 1,795 1,814 1,772 1,885 Pickup Ratio 0.972 1.007 1.192 1.310 1.499 1.318 1.144 0.912 0.940 1.065 1.014 1.117 1.220 1.188 1.056 1.131 1.210 1.293 1.478 1.494 1.117 0.952 0.907 0.918 0.956 0.935 0.915 0.893 0.915 0.985 0.896 0.984 1.063 1.176 1.273 0.957 1.127 1.280 1.437 1.474 1.551 1.339 1.083 1.145 1.217 1.205 1.070 1.205 1.164 0.960 1.141 1.048 1.004 0.988 1.090 1.275 5 827 952 740 908 1,311 2,034 1,584 1,682 1,684 1,600 1,077 956 1,455 1,001 1,131 1,151 942 884 1,315 1,885 1,963 2,006 1,855 1,962 2,019 2,052 2,018 1,706 1,874 1,827 1,734 1,124 803 1,356 848 966 909 798 731 869 1,372 760 1,144 1,450 1,739 1,491 1.477 1,801 1,096 1,605 1.788 1,836 1,626 1,479 1 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 2 3 4 5 6 7 6 1 2 3 4 5 6 7 7 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 9 1 2 3 4 5 6 7 10 2 3 4 5 6 7 1 2 1.924 1.591 1,727 1,772 1,748 1,748 1,643 1,765 1,748 1,795 1,672 1,345 1,273 1,600 1,773 1,292 1,753 1,805 1,601 722 889 1,058 887 1,676 1,775 1,759 1,093 1,217 1,542 988 1,510 0.914 0.925 1.111 1.135 1.118 1.097 0.962 0.846 0.963 1.076 1.144 1.310 1.222 1.110 0.913 0.922 0.970 1.074 1.133 1.205 1.070 0.942 0.932 0.958 0.999 1.006 1.173 1.256 0.987 0.984 1.075 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 3 4 5 2,105 1,720 1,554 1,561 1,563 1,594 1,708 2,086 1,816 1,668 1,461 1,027 1,042 1,442 1,941 1,401 1,807 1,681 1,413 599 831 1,123 952 1,750 1,777 1,748 932 969 1,562 1,004 1,404 1,657 1.643 1,124 1,074 1,839 1,862 1,886 1,696 1,002 794 1,106 6 7 12 2 3 4 5 6 13 7 1 2 3 4 5 6 14 1 2 3 4 5 6 7 DOW Indicator: 1 = Saturday 2 = Sunday 3 = Monday 4 = Tuesday 5 = Wednesday 6 = Thursday 7 = Friday 1. How should Andrea Wilson develop a forecast on Tuesday for each day's demand from the coming Saturday through Friday? What procedure / method should she use? 2. Using the procedure and guidelines you recommended in (2) develop a forecast using data in Exhibit 1 (See Excel file above) for the coming Saturday. 3. What should Andrea do about the request for 50 rooms for the coming Saturday? Should she book all 60 or a lower number or reject all 607 Exhibit 1 Historical Demand and Reservations Data Week 1 Dow Indicator 1 Tuesday Bookings 1,512 Dow Index 0.865 2 864 3 4 5 6 7 2 2 3 4 5 6 7 3 1 2 3 4 5 6 7 4 1 2 3 4 5 6 7 Demand 1,470 870 986 1,247 1,109 1,197 1,500 1.854 1,489 1,792 1,708 1,787 1,314 1,136 1,537 1,132 1,368 1,488 1,392 1,321 1,469 1,795 1,780 1,841 1.774 1,835 1,847 1.833 1,847 1.680 1,680 1,798 1.843 1,322 1,022 1,298 956 1,236 1,306 1,176 1,134 1,164 1,486 870 1,392 1,747 1,861 1,797 1,719 1,729 1,251 1,682 1,795 1,814 1,772 1,885 Pickup Ratio 0.972 1.007 1.192 1.310 1.499 1.318 1.144 0.912 0.940 1.065 1.014 1.117 1.220 1.188 1.056 1.131 1.210 1.293 1.478 1.494 1.117 0.952 0.907 0.918 0.956 0.935 0.915 0.893 0.915 0.985 0.896 0.984 1.063 1.176 1.273 0.957 1.127 1.280 1.437 1.474 1.551 1.339 1.083 1.145 1.217 1.205 1.070 1.205 1.164 0.960 1.141 1.048 1.004 0.988 1.090 1.275 5 827 952 740 908 1,311 2,034 1,584 1,682 1,684 1,600 1,077 956 1,455 1,001 1,131 1,151 942 884 1,315 1,885 1,963 2,006 1,855 1,962 2,019 2,052 2,018 1,706 1,874 1,827 1,734 1,124 803 1,356 848 966 909 798 731 869 1,372 760 1,144 1,450 1,739 1,491 1.477 1,801 1,096 1,605 1.788 1,836 1,626 1,479 1 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 2 3 4 5 6 7 6 1 2 3 4 5 6 7 7 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 9 1 2 3 4 5 6 7 10 2 3 4 5 6 7 1 2 1.924 1.591 1,727 1,772 1,748 1,748 1,643 1,765 1,748 1,795 1,672 1,345 1,273 1,600 1,773 1,292 1,753 1,805 1,601 722 889 1,058 887 1,676 1,775 1,759 1,093 1,217 1,542 988 1,510 0.914 0.925 1.111 1.135 1.118 1.097 0.962 0.846 0.963 1.076 1.144 1.310 1.222 1.110 0.913 0.922 0.970 1.074 1.133 1.205 1.070 0.942 0.932 0.958 0.999 1.006 1.173 1.256 0.987 0.984 1.075 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 1.013 1.068 1.123 1.049 0.865 0.911 0.973 3 4 5 2,105 1,720 1,554 1,561 1,563 1,594 1,708 2,086 1,816 1,668 1,461 1,027 1,042 1,442 1,941 1,401 1,807 1,681 1,413 599 831 1,123 952 1,750 1,777 1,748 932 969 1,562 1,004 1,404 1,657 1.643 1,124 1,074 1,839 1,862 1,886 1,696 1,002 794 1,106 6 7 12 2 3 4 5 6 13 7 1 2 3 4 5 6 14 1 2 3 4 5 6 7 DOW Indicator: 1 = Saturday 2 = Sunday 3 = Monday 4 = Tuesday 5 = Wednesday 6 = Thursday 7 = Friday 1. How should Andrea Wilson develop a forecast on Tuesday for each day's demand from the coming Saturday through Friday? What procedure / method should she use? 2. Using the procedure and guidelines you recommended in (2) develop a forecast using data in Exhibit 1 (See Excel file above) for the coming Saturday. 3. What should Andrea do about the request for 50 rooms for the coming Saturday? Should she book all 60 or a lower number or reject all 607Step 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