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Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past nine years. To project future occupancy, management would like to determine
Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past nine years. To project future occupancy, management would like to determine the mathematical trend of guest registration. This estimate will help the hotel determine whether future expansion will be needed. Show the method of calculation and formula to solve the following: a. Given the following time-series data, develop a linear regression equation relating registration to time. Then forecast 2025 registrations
Year | Number of room registration |
2015 | 17 |
2016 | 16 |
2017 | 16 |
2018 | 21 |
2019 | 20 |
2020 | 20 |
2021 | 23 |
2022 | 25 |
2023 | 24 |
2025 | ? |
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