Holiday Lodge The Holiday Lodge is a large hotel and casino in the Adirondacks. The relatively new hotel is two years old, and the manager is trying to develop a plan to staff the maintenance department. The hotel’s manager wants to use the two years of data below to forecast one month ahead of maintenance calls. The data is provided in the spreadsheet named HOLIDAY LODGE DATA.XLS Month Calls 1 46 2 39 3 28 4 21 5 14 6 16 7 14 8 13 9 9 10 13 11 18 12 15 13 12 14 6 15 19 16 9 17 12 18 14 19 16 20 12 21 13 22 9 23 14 24 15 Develop a forecast for month 25 using a 4 month moving average, exponential smoothing (a = 0.2) and regression. Which forecast is preferred? Why?
Holiday Lodge The Holiday Lodge is a large hotel and casino in the Adirondacks. The relatively new hotel is two years old, and the manager is trying to develop a plan to staff the maintenance department. The hotel’s manager wants to use the two years of data below to forecast one month ahead of maintenance calls. The data is provided in the spreadsheet named HOLIDAY LODGE DATA.XLS Month Calls 1 46 2 39 3 28 4 21 5 14 6 16 7 14 8 13 9 9 10 13 11 18 12 15 13 12 14 6 15 19 16 9 17 12 18 14 19 16 20 12 21 13 22 9 23 14 24 15 Develop a forecast for month 25 using a 4 month moving average, exponential smoothing (a = 0.2) and regression. Which forecast is preferred? Why?
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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Holiday Lodge
The Holiday Lodge is a large hotel and casino in the Adirondacks. The relatively new hotel is two years old, and the manager is trying to develop a plan to staff the maintenance department. The hotel’s manager wants to use the two years of data below to
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Month |
Calls |
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1 |
46 |
|
2 |
39 |
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3 |
28 |
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4 |
21 |
|
5 |
14 |
|
6 |
16 |
|
7 |
14 |
|
8 |
13 |
|
9 |
9 |
|
10 |
13 |
|
11 |
18 |
|
12 |
15 |
|
13 |
12 |
|
14 |
6 |
|
15 |
19 |
|
16 |
9 |
|
17 |
12 |
|
18 |
14 |
|
19 |
16 |
|
20 |
12 |
|
21 |
13 |
|
22 |
9 |
|
23 |
14 |
|
24 |
15 |
Develop a forecast for month 25 using a 4 month moving average, exponential smoothing (a = 0.2) and regression. Which forecast is preferred? Why?
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