The table below shows information about the number of customers (in thousand) of a coffee shop per quarter in years 2018 to 2020. Year 2018 2019 2020 1 2 3 4|1 2 3 41 2| 3 | 4 Number of customers 1.2 0.9 | 0.7 | 1.8 | 1.5 1.1| 0.8 | 2.1| 1.6| 1.2 0.9 | 2.3 Quarter (a) In a short paragraph, describe the trend and seasonal variation of the number of customers (in thousand) in this coffee shop by referring to the following time series plot: Number of Customers (in thousand) 2.6 2.4 2.2 1.8 1.6 1.4 1.2 1 0.8 0.6 0.4 0.2 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 Q1 02 03 Q4 Q1 02 Q3 Q4 Q1 Q2 Q3 Q4 (b) Find the trend by calculating the 4-period moving average. (Present your work in a table format and correct all answers to 4 decimal places.)
The table below shows information about the number of customers (in thousand) of a coffee shop per quarter in years 2018 to 2020. Year 2018 2019 2020 1 2 3 4|1 2 3 41 2| 3 | 4 Number of customers 1.2 0.9 | 0.7 | 1.8 | 1.5 1.1| 0.8 | 2.1| 1.6| 1.2 0.9 | 2.3 Quarter (a) In a short paragraph, describe the trend and seasonal variation of the number of customers (in thousand) in this coffee shop by referring to the following time series plot: Number of Customers (in thousand) 2.6 2.4 2.2 1.8 1.6 1.4 1.2 1 0.8 0.6 0.4 0.2 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 Q1 02 03 Q4 Q1 02 Q3 Q4 Q1 Q2 Q3 Q4 (b) Find the trend by calculating the 4-period moving average. (Present your work in a table format and correct all answers to 4 decimal places.)
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...
Related questions
Question
In a short paragraph, describe the trend and seasonal variation of the number of customers (in thousand)
in this coffee shop by referring to the following time series plot:
(b) Find the trend by calculating the 4-period moving average.
(Present your work in a table format and correct all answers to 4 decimal places.)
Transcribed Image Text:The table below shows information about the number of customers (in thousand) of a coffee shop per quarter
in years 2018 to 2020.
Year
2018
2019
2020
1 2 3
12 3
0.9 | 0.7
1
1.6| 1.2 0.9 2.3
Quarter
4
4
2
3
4
Number of customers 1.2
1.8
1.5
1.1
0.8 2.1
(a) In a short paragraph, describe the trend and seasonal variation of the number of customers (in thousand)
in this coffee shop by referring to the following time series plot:
Number of Customers (in thousand)
2.6
2.4
2.2
1.8
1.6
1.4
1.2
0.8
0.6
0.4
0.2
2018
2018
2018
2018
2019
2019
2019
2019
2020
2020
2020
2020
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
(b) Find the trend by calculating the 4-period moving average.
(Present your work in a table format and correct all answers to 4 decimal places.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 8 images
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.