Attendance at Orlando's newest Disneylike attraction, Lego World, has been as followsQuarterGuests(in thousands)QuarterSummer Year 2Winter Year 15899Fall Year 2149Winter Year 3Spring Year 1Summer Year 1Fal Year 1Winter Year 275Spring Year 363Summer Year 3Spring Year 2182Fall Year 3Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places)SeasonIndexWinterSpringSummerFall0000Guests(in thousands)125549914621099

To determine the Seasonal indices of the year by using formulae: Total attendance for the year =…

Answered: Attendance at Orlando's newest…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Please forecast the mileage for 2013 using the Naive method.
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 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 C000) Delayed 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 rate (1) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particular model? (5 marks) (ii) Develop the forecasting model that you suggest in (i). Briefly explain your model. (20 marks)
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In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?
Naïve method versus three period Moving Average The number of major plumbing repair jobs performed by Augur’s Plumbing Service in each of the last six months is listed below. Month Jobs October 92 November 94 December 98 January 95 February 99 March 104 Use the ‘textbook’ naïve method to forecast April jobs (Ft+1 = Xt + (Xt – Xt-1). Use the three- period moving average to forecast jobs in April Based upon the MAD (mean absolute deviation), determine whether the three-period moving average or textbook naïve method is more accurate, based upon forecasts for January through March.
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.60 $3.50 $1.90 $4.10 $3.00 $4.00 Number Sold 760 515 990 245 320 480 D Using simple linear regression and given that the price per cup is $1.80, the forecasted demand for mocha latte coffees will be to one decimal place). cups (enter your response rounded
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N
Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows: Quarter Winter Year 1 Spring Year 1 Summer Year 11 Fall Year 1 Guests (in thousands) 68 99 149 75 65 84 Quarter Summer Year 2 Fall Year 2 Winter Winter Year 3 Spring Year 3 Summer Year 3 Fall Year 3 Guests (in thousands) 120 51 99 151 Winter Year 2 207 Spring Year 2 97 Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places): Season Index
What is the seasonal relative for the summer? (Please keep 3 decimal places for your answer)
The County Transportation Department needs to determine usage factors by day of the week for a popular toll bridge connecting different parts of the city. In the current study, they are considering only working days. Suppose that the numbers of cars using the bridge each working day over the past four weeks were (in thousands of cars) Find the seasonal factors corresponding to daily usage of the bridge.
Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: 2 3 21 19 Week 1 Actual Passenger Miles (in thousands) 17 Week Forecasted Passenger Miles (in thousands) a) Assuming an initial forecast for week 1 of 17,000 miles, use exponential smoothing to compute miles for weeks 2 through 12. Use α = 0.2 (round your responses to two decimal places). 10 11 4 5 6 7 8 9 23 18 16 20 18 22 20 15 2 1 3 4 6 7 17.00 17.00 17.80 18.04 19.03 18.83 18.26 5 8 18.61 9 18.49 19.19 10 12 22 11 12

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