5 Calanute Beach Resort, a fictional seaside luxury hotel | in Goa, India, had the following occupancy rates for 12 months in 2014 Occupancy Rate Month in % 1 65 68 3 72 4 75 78 83 7 92 8 88 76 10 65 11 64 12 69 Forecast the occupancy rate for January2015 using simple exponential smoothing with a = 0.4. Assume a that the forecast for Month 2 (F2) is 65%. b Forecast the January 2015 occupancy rate using trend-adjusted simple exponential smoothing with a -0.4 and B-0.2. Assume that the forecast for Month 2 (F2) is 68% and the trend factor for Month 2 is T2 0.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
### Calanute Beach Resort Occupancy Analysis

**Calanute Beach Resort**, a fictional seaside luxury hotel located in Goa, India, recorded the following occupancy rates over a 12-month period in 2014:

#### Monthly Occupancy Rates

| **Month** | **Occupancy Rate (%)** |
|-----------|-------------------------|
| 1         | 65                      |
| 2         | 68                      |
| 3         | 72                      |
| 4         | 75                      |
| 5         | 78                      |
| 6         | 83                      |
| 7         | 92                      |
| 8         | 88                      |
| 9         | 76                      |
| 10        | 65                      |
| 11        | 64                      |
| 12        | 69                      |

### Exercise Questions

**a. Forecast the occupancy rate for January 2015 using simple exponential smoothing with α = 0.4. Assume that the forecast for Month 2 (F2) is 65%.**

**b. Forecast the January 2015 occupancy rate using trend-adjusted simple exponential smoothing with α = 0.4 and β = 0.2. Assume that the forecast for Month 2 (F2) is 68% and the trend factor for Month 2 is T2 = 0.**

### Explanation of Graphs/Diagrams

There are no graphs or diagrams provided in the data. The data consists purely of numerical values representing the occupancy rates for each month in 2014. The forecasting questions require the use of specific formulas for exponential smoothing and trend-adjusted exponential smoothing.

### Forecasting Formulas

1. **Simple Exponential Smoothing:**
   \[
   F_{t+1} = \alpha \cdot A_t + (1 - \alpha) \cdot F_t
   \]
   Where:
   - \( A_t \) = Actual value in period t
   - \( F_t \) = Forecasted value for period t
   - \( α \) = Smoothing constant

2. **Trend-Adjusted Simple Exponential Smoothing:**
   \[
   F_{t+1} = (S_t + T_t)
   \]
   \[
   S_t = \alpha \cdot A_t + (1 - \alpha) \cdot (S_{t-
Transcribed Image Text:### Calanute Beach Resort Occupancy Analysis **Calanute Beach Resort**, a fictional seaside luxury hotel located in Goa, India, recorded the following occupancy rates over a 12-month period in 2014: #### Monthly Occupancy Rates | **Month** | **Occupancy Rate (%)** | |-----------|-------------------------| | 1 | 65 | | 2 | 68 | | 3 | 72 | | 4 | 75 | | 5 | 78 | | 6 | 83 | | 7 | 92 | | 8 | 88 | | 9 | 76 | | 10 | 65 | | 11 | 64 | | 12 | 69 | ### Exercise Questions **a. Forecast the occupancy rate for January 2015 using simple exponential smoothing with α = 0.4. Assume that the forecast for Month 2 (F2) is 65%.** **b. Forecast the January 2015 occupancy rate using trend-adjusted simple exponential smoothing with α = 0.4 and β = 0.2. Assume that the forecast for Month 2 (F2) is 68% and the trend factor for Month 2 is T2 = 0.** ### Explanation of Graphs/Diagrams There are no graphs or diagrams provided in the data. The data consists purely of numerical values representing the occupancy rates for each month in 2014. The forecasting questions require the use of specific formulas for exponential smoothing and trend-adjusted exponential smoothing. ### Forecasting Formulas 1. **Simple Exponential Smoothing:** \[ F_{t+1} = \alpha \cdot A_t + (1 - \alpha) \cdot F_t \] Where: - \( A_t \) = Actual value in period t - \( F_t \) = Forecasted value for period t - \( α \) = Smoothing constant 2. **Trend-Adjusted Simple Exponential Smoothing:** \[ F_{t+1} = (S_t + T_t) \] \[ S_t = \alpha \cdot A_t + (1 - \alpha) \cdot (S_{t-
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 5 images

Blurred answer
Knowledge Booster
Time Series Analyses, Forecasting Methods, and Indices
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman