Question
Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since its opening in January 1993. For
Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since its opening in January 1993. For the first six months of operation, the following figures were recorded: Month Number of Patrons January 143 February 183 March 285 April 640 May 1,876 June 2,550 Let the smoothing constant have values: alpha= 0.15, and = 0.10. Suppose that the actual number of patrons for July was 2,150 and the number in August was 2,660. a) Compute through regression analysis in Excel the values of the intercept, a, and the slope, b, using the data from January to June (round the numbers to two decimal places). 2 (Please explain the procedure you follow in Excel. In particular, what are the x-range and y-range, and how do you obtain the intercept and slope) b) The regression analysis at question a) provides the values of L0 equal to the intercept a, and T0 equal to the slope b. Use Holts Method to update the estimates of the level and trend for the months of July and August (by doing one-step ahead forecast update starting from January). (You can use excel to reduce your work, but please show your calculation for at least one complete round of update to show your correct understanding)
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