Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The gym is now considering a potential expansion next year. The gym manager collected active membership data in the past 12 months (see table below)
The gym is now considering a potential expansion next year. The gym manager collected active membership data in the past 12 months (see table below) and hope these data would be used for forecasting the active membership in the next couple of months. Use the following time series forecasting methods to conduct your forecast in EXCEL and upload your excel file (Note: calculations of mean absolute deviation or MAD for each forecasting method needs to be included in the excel file)
- 3-month moving average forecast (for month 4 through month 12)
- weighed 3-month moving average (assign weights of .6, .3 and .1 to the months in sequence, starting from the most recent month) for month 4 through month 12
- exponentially smoothed forecast with an value of .30 (for month 2 through 12)
- adjusted exponentially smoothed forecast with an value of .30 and a value of .30 (for month 2 through 12)
- linear trend line (for month 1 through 12) Make sure to solve it in excl and provide the exel equation in excl with the excl solver.
Month | Active Membership |
1 | 125 |
2 | 157 |
3 | 184 |
4 | 229 |
5 | 251 |
6 | 302 |
7 | 337 |
8 | 375 |
9 | 402 |
10 | 446 |
11 | 474 |
12 | 503 |
Step 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