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mpute the mean absolute deviation (MAD) via Excel and/or POM-QM.  b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20 and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be c.In the Bayside Fountain Hotel problem, for the adjusted

mpute the mean absolute deviation (MAD) via Excel and/or POM-QM.  b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20 and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be c.In the Bayside Fountain Hotel problem, for the adjusted

Practical Management Science
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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a. In the Bayside Fountain Hotel problem, for the exponentially smoothed forecast with an α value of .20, compute the mean absolute deviation (MAD) via Excel and/or POM-QM. 

b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20
and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be

c.In the Bayside Fountain Hotel problem, for the adjusted
exponentially smoothed forecast with α = .20 and β = .20, compute the mean absolute deviation (MAD) via Excel and/or POM-QM. 

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 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 α value of 0.20. 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 | 83 | | 2 | 78 | | 3 | 75 | | 4 | 81 | | 5 | 86 | | 6 | 85 | | 7 | 89 | | 8 | 90 | | 9 | 86 | The table lists the occupancy rates for each year from 1 to 9. To compute the forecast for year 5 using exponential smoothing with a smoothing constant (α) of 0.20, input the data into a software tool such as Excel or POM-QM to calculate the smoothed value.
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 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 α value of 0.20. 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 | 83 | | 2 | 78 | | 3 | 75 | | 4 | 81 | | 5 | 86 | | 6 | 85 | | 7 | 89 | | 8 | 90 | | 9 | 86 | The table lists the occupancy rates for each year from 1 to 9. To compute the forecast for year 5 using exponential smoothing with a smoothing constant (α) of 0.20, input the data into a software tool such as Excel or POM-QM to calculate the smoothed value.
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