Since the Covid-19 outbreak, the use of sports facilities and venues has dropped significantly. You have a group of friends who are frequent visitors to a swimming pool and they are interested in understanding the impact of Covid-19 on the income of the swimming pool operator. Knowing that you have learned the knowledge related to making forecasts, your friends ask for your opinion on the following questions. Please use relevant data in the Excel workbook Q2_input_file.xlsx in Canvas (next to this question paper) to answer the following questions. (a) Comment on the underlying pattern in the swimming pool attendances over 2016 1Q – 2019 4Q. Please limit the answer to within one page. (b) Use a suitable method to forecast the swimming pool attendances for every quarter between 2020 1Q and 2021 2Q, assuming that actual data in that range is not yet available. After that, combined with the actual data, estimate the income loss of the swimming pool for each quarter in that range, assuming that each attendance brings in income of $5 for the swimming pool. Please limit the answer to within two pages. (c) Name another time series method that is suitable for forecasting the quarterly swimming pool attendances for Part (b) and briefly describe the steps. Then compare the method you used in Part (b) with this method: when the former is more appropriate; when the latter is more appropriate. You do not need to show any detailed calculations for Part (c). You can show general formulas for easy description. Please limit the answer to within 300 words.
Since the Covid-19 outbreak, the use of sports facilities and venues has dropped significantly. You have a group of friends who are frequent visitors to a swimming pool and they are interested in understanding the impact of Covid-19 on the income of the swimming pool operator. Knowing that you have learned the knowledge related to making forecasts, your friends ask for your opinion on the following questions.
Please use relevant data in the Excel workbook Q2_input_file.xlsx in Canvas (next to this question paper) to answer the following questions.
(a) Comment on the underlying pattern in the swimming pool attendances over 2016 1Q – 2019 4Q. Please limit the answer to within one page.
(b) Use a suitable method to forecast the swimming pool attendances for every quarter between 2020 1Q and 2021 2Q, assuming that actual data in that range is not yet available. After that, combined with the actual data, estimate the income loss of the swimming pool for each quarter in that range, assuming that each attendance brings in income of $5 for the swimming pool. Please limit the answer to within two pages.
(c) Name another time series method that is suitable for
You do not need to show any detailed calculations for Part (c). You can show general formulas for easy description. Please limit the answer to within 300 words.
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