Using the data on call volume in the accompanying table, how would you forecast short-term demand? **Table: Call Volume Over 16 Days**This table presents data on call volume across a 16-day period. The first column indicates the day, while the second column shows the corresponding call volume for each day.| Day | Call Volume ||-----|-------------|| 1 | 204 || 2 | 336 || 3 | 295 || 4 | 251 || 5 | 280 || 6 | 300 || 7 | 398 || 8 | 418 || 9 | 309 || 10 | 471 || 11 | 522 || 12 | 502 || 13 | 449 || 14 | 452 || 15 | 420 || 16 | 500 |**Analysis:**- The lowest call volume was recorded on Day 1 with 204 calls.- The highest call volume was recorded on Day 11 with 522 calls.- There is a noticeable increase in call volumes starting from Day 6, peaking around Days 10 and 11.- The trend suggests an overall increase in call volume over the 16-day period, with fluctuations occurring on individual days.This data could be useful for analyzing call center activity or other communication patterns over time.

Forecasting is a method that generates precise forecasts of the future direction of trends using…

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Operations Management

Using the data on call volume in the accompanying table, how would you forecast short-term demand

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Question

Using the data on call volume in the accompanying table, how would you forecast short-term demand?

**Table: Call Volume Over 16 Days**

This table presents data on call volume across a 16-day period. The first column indicates the day, while the second column shows the corresponding call volume for each day.

| Day | Call Volume |
|-----|-------------|
| 1 | 204 |
| 2 | 336 |
| 3 | 295 |
| 4 | 251 |
| 5 | 280 |
| 6 | 300 |
| 7 | 398 |
| 8 | 418 |
| 9 | 309 |
| 10 | 471 |
| 11 | 522 |
| 12 | 502 |
| 13 | 449 |
| 14 | 452 |
| 15 | 420 |
| 16 | 500 |

**Analysis:**

- The lowest call volume was recorded on Day 1 with 204 calls.
- The highest call volume was recorded on Day 11 with 522 calls.
- There is a noticeable increase in call volumes starting from Day 6, peaking around Days 10 and 11.
- The trend suggests an overall increase in call volume over the 16-day period, with fluctuations occurring on individual days.

This data could be useful for analyzing call center activity or other communication patterns over time.

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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