might attend the pool each day during the summer with the current number of shares. The board of directors has the following daily attendance records for June through August from the previous summer; it thinks the fig- ures would provide accurate estimates for the upcoming summer: ment М-139 W-380 F-193 Su-399 T-177 Th-238 T-273 Th-367 Sa-378 М-197 W-161 F-224 boo W-172 F-359 Su-461 Т-273 Th-308 Sa-368 Th-275 Sa-463 М-242 W-213 F-256 Su-541 Case Problem 12.3 Cascades Swim Club F-337 Su-578 T-177 Th-303 Sa-391 М-235 The Cascades Swim Club has 300 stockholders, each holding Sa-402 М-287 W-245 F-262 Su-400 T-218 one share of stock in the club. A share of club stock allows the Su-487 T-247 Th-390 Sa-447 М-224 W-271 shareholder's family to use the club's heated outdoor pool during the summer upon payment of annual membership dues of $175. The club has not issued any stock in years, and only a few of the existing shares come up for sale each year. The board of directors administers the sale of all stock. When a shareholder wants to sell, М-198 W-356 F-284 Su-399 Т-239 Th-259 T-310 Th-322 Sa-417 М-275 W-274 F-232 W-347 F-419 Su-474 Т-241 Th-205 Sa-317 he or she turns the stock into the board, which sells it to the person at the top of the waiting list. For the past few years, the length of the waiting list has remained relatively steady at approximately 20 Th-393 Sa-516 М-194 W-190 F-361 Su-369 F-421 Su-478 T-207 Th-243 Sa-411 М-361 names. However, during the past winter two events occurred that have suddenly increased the demand for shares in the club. The winter was especially severe, and subzero weather and heavy ice Sa-595 М-303 W-215 F-277 Su-419 Su-497 T-223 Th-304 Sa-241 М-258 storms caused both the town and the county pools to buckle and М-341 W-315 F-331 Su-384 T-130 crack. The problems were not discovered until maintenance crews began to prepare the pools for the summer, and repairs cannot be completed until the fall. Also during the winter, the manager of the local country club had an argument with her board of direc- tors and one night burned down the clubhouse. Although the pool itself was not damaged, the dressing room facilities, showers, and snack bar were destroyed. As a result of these two events, the Cas- T-291 Th-258 Sa-407 М-246 W-195 Develop a forecasting model to forecast daily demand during the summer. Passenger Arrivels cades Swim Club was inundated with applications to purchase shares. The waiting list suddenly grew to 250 people as the summer approached. The board of directors of the swim club had refrained from Si fed airli lines nents securi inc issuing new shares in the past because there never was a very great demand, and the demand that did exist was usually absorbed within a year by stock turnover. In addition, the board has a real concern about overcrowding. It seemed that the present member- ship was about right, and there were very few complaints about overcrowding, except on holidays such as Memorial Day and the Fourth of July. However, at a recent board meeting, a number of new applicants had attended and asked the board to issue new shares. In addition, a number of current shareholders suggested that this might be an opportunity for the club to raise some capital for needed repairs and to improve some of the existing facilities. This was tempting to the board. Although it had set the share price at $500 in the past, the board could set it at a much higher level now. In addition, an increase in attendance could create a need for more lifeguards. crease es One eration De passer senge ро staff are ations tham e to July the pose ing họ e the mon exces been inc con dif Before the board of directors could make a decision on whether to sell more shares and, if so, how many, the board members felt they needed more information. Specifically, they would like a forecast of the average number of people (family members, guests, etc.) who lod random r the mont our uly for the pa