Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data

The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data is shown in the accompanying table. You can use EXCEL

Week

Customers

1

868

2

917

3

885

4

880

5

961

6

1030

7

983

8

920

9

849

10

768

11

773

12

721

13

730

14

783

15

831

16

786

17

845

18

912

19

907

20

856

21

904

22

927

23

885

24

817

25

823

26

900

27

963

28

966

29

1045

30

1127

31

1109

32

1099

33

1093

34

1083

35

1009

36

988

37

936

38

890

39

926

40

873

41

856

42

929

43

905

44

1004

45

1094

46

1154

47

1087

48

1136

49

1217

50

1201

51

1271

52

1256

Use the simple exponential smoothing technique with = 0.2 to make a forecast for Week 53. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

Use the simple exponential smoothing technique with = 0.4 to make a forecast for Week 53. (Do not round intermediate calculations. Round final answer to 2 decimal places.) Which is the preferred technique for making the forecast based on MSE, MAD, and MAPE? (Do not round intermediate calculations. Round final answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Linear Algebra with Applications

Authors: Howard Anton, Chris Rorres

9th edition

471669598, 978-0471669593

More Books

Students also viewed these Mathematics questions

Question

Describe the parts of the self, according to William James.

Answered: 1 week ago

Question

What is the mode?

Answered: 1 week ago