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Shoreline Park has the following data on the number of visitors since its opening (given in Table 1). Table 1: Number of visitor for the
Shoreline Park has the following data on the number of visitors since its opening (given in Table 1). Table 1: Number of visitor for the past 6 months Months 2 3 4 5 6 Demand 133 183 285 640 1876 2550 1 (a) Determine one-step-ahead forecasts for month 7 using six-month MA forecasting method. (Please always round down the fractional numbers as forecasts). (b) Determine one-step-ahead forecasts for month 7 using exponential smoothing method with a = 0.1 and F1 = 200 (Please always round down the fractional numbers as forecasts but DO NOT round down intermediate values). (c) Determine one-step-ahead forecasts for month 7 using double exponential smoothing method with a = 0.1, B = 0.1, So = 100, and Go = 300 (Please always round down the fractional numbers as forecasts but DO NOT round down intermediate values). (d) How would you compare the forecasting methods in part (a), (b) and (c)? Shoreline Park has the following data on the number of visitors since its opening (given in Table 1). Table 1: Number of visitor for the past 6 months Months 2 3 4 5 6 Demand 133 183 285 640 1876 2550 1 (a) Determine one-step-ahead forecasts for month 7 using six-month MA forecasting method. (Please always round down the fractional numbers as forecasts). (b) Determine one-step-ahead forecasts for month 7 using exponential smoothing method with a = 0.1 and F1 = 200 (Please always round down the fractional numbers as forecasts but DO NOT round down intermediate values). (c) Determine one-step-ahead forecasts for month 7 using double exponential smoothing method with a = 0.1, B = 0.1, So = 100, and Go = 300 (Please always round down the fractional numbers as forecasts but DO NOT round down intermediate values). (d) How would you compare the forecasting methods in part (a), (b) and (c)
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