Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) Table 2 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Arrival (‘000) 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 Delayed rate 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 a） Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particularmodel? b) Develop the forecasting model that you suggest in (i). Briefly explain your

Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) Table 2 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Arrival (‘000) 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 Delayed rate 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 a） Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particularmodel? b) Develop the forecasting model that you suggest in (i). Briefly explain your

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.2: Forecasting Demand

Problem 1LO

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Table 2

Year	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019
Arrival (‘000)	35.5	28.0	30.3	36.0	49.5	56.0	72.4	71.0	79.3	96.0
Delayed rate	4.2	3.8	3.8	3.5	4.6	4.5	4.6	4.6	4.7	4.5

a） Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particularmodel?

b) Develop the forecasting model that you suggest in

(i). Briefly explain your

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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