Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Week 1 attendance 1 4 5 6 0 Week 2 attendance 1 4 3 2 7 Week 3 attendance 1 5 9 8 7 Week

Week 1 attendance 14560
Week 2 attendance 14327
Week 3 attendance 15987
Week 4 attendance 14689
Week 5 attendance 16332
Week 6 attendance 15984
Week 7 attendance 17456
Week 8 attendance 16334
Week 9 attendance 18374
Week 10 attendance 19467
Week 11 attendance 20156
Week 12 attendance 22489
Week 13 attendance 21984
Week 14 attendance 24378
Week 15 attendance 27489
Week 16 attendance 26589
q1 Use an exponential smoothing model with a smoothing constant of 0.6 to predict the number of visitors in week 17. what is the prediction?
Q2 what would happen to your forecast if the smoothing constant had been 0.3 instead of 0.6? Explain qualitatively what would happen and why
Q3 can you use the current data, together with an exponential smoothing model to predict customer visits for week 20? why

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

Strategic management concepts

Authors: Fred david

13th Edition

9780136120988, 136120997, 136120989, 978-0136120995

More Books

Students also viewed these General Management questions

Question

Ty e2y Evaluate the integral dy

Answered: 1 week ago