he hotel has experi nced the following occupancy rates for ne past the coliseum opened. Compute an exponentially smoothed forecast with an a value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals)

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 Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-
seat arena that is home to the city's professional basketball and ice hockey teams and
that hosts a variety of concerts, trade shows, and conventions throughout the year.
The hotel has experienced the following occupancy rates for the past 9 years, since
the coliseum opened. Compute an exponentially smoothed forecast with an a value
of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5
would be (type number only, two decimals)
Year
Occupancy Rate (%)
1
2
3
4
5
6
7
8
9
6.26
83
78
75
81
86
85
89
90
86
Transcribed Image Text:The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000- seat arena that is home to the city's professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an a value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) Year Occupancy Rate (%) 1 2 3 4 5 6 7 8 9 6.26 83 78 75 81 86 85 89 90 86
In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed
forecast with a = .20
and B=.20. According to the result from Excel and/or POM-QM, the forecast for the
year 10 would be (type number only, two decimals)
90.32
Transcribed Image Text:In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with a = .20 and B=.20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be (type number only, two decimals) 90.32
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