Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past 9 years. To project future occupancy, management would like to determine the mathematical trend of guest registration. This estimate will help the hotel determine whether the future expansion will be needed. Given the following time-series data, develop a regression equation relating registrations to time (e.g., a trend equation). Then forecast year 11 registrations. Room registrations are in the thousands: Sr. No Year Registration (000) 1 2011 17 2 2012 16 3 2013 16 4 2014 21 5 2015 20 6 2016 20 7 2017 23 8 2018 25 9 2019 24
Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past 9 years. To project future occupancy, management would like to determine the mathematical trend of guest registration. This estimate will help the hotel determine whether the future expansion will be needed. Given the following time-series data, develop a regression equation relating registrations to time (e.g., a trend equation). Then forecast year 11 registrations. Room registrations are in the thousands: Sr. No Year Registration (000) 1 2011 17 2 2012 16 3 2013 16 4 2014 21 5 2015 20 6 2016 20 7 2017 23 8 2018 25 9 2019 24
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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Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past 9 years. To project future occupancy, management would like to determine the mathematical trend of guest registration. This estimate will help the hotel determine whether the future expansion will be needed.
Given the following time-series data, develop a regression equation relating registrations to time (e.g., a trend equation). Then
|
Sr. No |
Year |
Registration (000) |
|
1 |
2011 |
17 |
|
2 |
2012 |
16 |
|
3 |
2013 |
16 |
|
4 |
2014 |
21 |
|
5 |
2015 |
20 |
|
6 |
2016 |
20 |
|
7 |
2017 |
23 |
|
8 |
2018 |
25 |
|
9 |
2019 |
24 |
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