Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows:Guests(in thousands)QuarterWinter Year 1Spring Year 1Summer Year 1Fall Year 1Winter Year 2Spring Year 26394168756483SeasonQuarterWinterSummer Year 2Fall Year 2Winter Year 3Spring Year 3Summer Year 3Fall Year 3Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to threedecimal places):Guests(in thousands)Index124519415121099

Seasonal index is determined by average divided by overall average. Quarter Year 1 Year 2 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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The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Jan Feb Mar AprMonth 1 2 3 4Number of Accidents 25 40 60 105 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): y = ? + ?x
QWE Inn has recorded the following number of rooms sold for the first quarter of the year: January 2100 February 2500 March 2550 What is the 3-month moving average forecast of rooms sold equal to for the month April?
George's 4.27 Attendance at Orlando's newest Disneylike attrac- .. tion, Lego World, has been as follows: GUESTS GUESTS (IN THOUSANDS) (IN THOUSANDS) QUARTER QUARTER Winter Year 1 73 Summer Year 2 124 Spring Year 1 104 Fall Year 2 52 Summer Year 1 168 Winter Year 3 89 Fall Year 1 74 Spring Year 3 146 Winter Year 2 65 Summer Year 3 205 Spring Year 2 82 Fall Year 3 T98 Compute seasonal indices using all of the data. PX doma
10 Dr. Lillian Fok, a New Orleans psychologist, specializes in treating patients who are agoraphobic (i.e., afraid to leave their homes). The following table indicates how many patients Dr. Fokh each year for the past 10 years. It also indicates what the robbery rate was in New Orleans during the same year: ! 1 F1 A 1 option Year Number of Patients Robbery Rate per 1,000 Population The simple linear regression equation that shows the best relationship between the number of patients and the robbery rate is (round your responses to three decimal places): ŷ=0+0x N @ 2 W S X command A where y Number of Patients and x = Robbery Rate. In year 11, if the robbery rate increases to 133.40, using trend analysis, the number of patients Dr. Fok will see = patients (round your response to two decimal places). In year 11, if the robbery rate decreases to 90.6, using trend analysis, the number of patients Dr. Fok will see = patients (round your response to two decimal places). #3 80 F3 E D $ 4 C 888…
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)
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 Number Sold $2.70 $3.60 $2.00 $4.10 $3.20 760 505 990 245 315 $4.00 475 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).
The Dean of a faculty wants to forecast student enrolments for this academic year based on the following historical data: (5 years ago enrolment was 11770 ), (4 years ago enrolment was 15251), (3 years ago enrolment was 15785 ), (2 years ago enrolment was 16076 ) and in the last year enrolment was 19001 . What is the forecast for this year using exponential smoothing with alpha=0.58999997 , if the forecast for two years ago was :17623 a. 16710.27 b. 18061.801 c. 17801.75 d. 17386.035
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 $2.50 $3.40 $1.90 $4.10 $3.20 $4.00 Number Sold 770 510 975 240 315 475 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be (enter your response rounded to one decimal place). cups
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
Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 3 8 9 6 7 6 3 7 10 11 Year Year Forecast (000) 1 5 1 5 2 5 4 4 4 5 11 Registrations (000) Use exponential smoothing with a smoothing constant of 0.4 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure, assume that the forecast for year 1 was 5,000 people signing up (round your responses to one decimal place): 2 3 5 6 7 8 10 16 9 11 12 10 D 11 12 a) What is the MAD? Mean absolute deviation based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is thousand registrations (round your response to one decimal place). b) What is the MSE? The mean squared error based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is (round your response to two decimal…
Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows Quarter Guests (in thousands) Quarter Summer Year 2 Winter Year 1 58 99 Fall Year 2 149 Winter Year 3 Spring Year 1 Summer Year 1 Fal Year 1 Winter Year 2 75 Spring Year 3 63 Summer Year 3 Spring Year 21 82 Fall Year 3 Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places) Season Index Winter Spring Summer Fall 0000 Guests (in thousands) 125 54 99 146 210 99

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