Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the Johannesburg – Cape Town route, are as follows for the past 12 weeks: Passenger kilometres Week (1 000) 1 17 2 21 19 23 18 6 16 7 20 8 18 9. 22 10 20 11 15 12 22 The company needs to determine aircraft capacity requirement for week 13. To this end pax-km forecasts for week 13 are required. Assist the company and establish the weekly forecasts by using the following methods: • A four-week moving average • A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most recent week) • Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000 pax-km)
Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the Johannesburg – Cape Town route, are as follows for the past 12 weeks: Passenger kilometres Week (1 000) 1 17 2 21 19 23 18 6 16 7 20 8 18 9. 22 10 20 11 15 12 22 The company needs to determine aircraft capacity requirement for week 13. To this end pax-km forecasts for week 13 are required. Assist the company and establish the weekly forecasts by using the following methods: • A four-week moving average • A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most recent week) • Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000 pax-km)
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Transcribed Image Text:Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the
Johannesburg – Cape Town route, are as follows for the past 12 weeks:
Passenger kilometres
Week
(1 000)
17
2
21
19
4
23
18
6
16
20
8.
18
9.
22
10
20
11
15
12
22
The company needs to determine aircraft capacity requirement for week 13. To this end
pax-km forecasts for week 13 are required. Assist the company and establish the weekly
forecasts by using the following methods:
• A four-week moving average
• A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most
recent week)
• Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000
pax-km)
• Trend regression
Which of these techniques would you recommend that the company use?
What is the pax-km forecast for week 15?
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