Week Customers 1 991 2 1047 3 1010 4 1004 5 1097 6 1176 7 1122 8 1050 9 969 10 877 11 882 12 823 13 833 14 894 15 948 16 897 17 964 18 1041 19 1035 20 977 21 1032 22 1058 23 1010 24 932 25 940 26 1027 27 1099 28 1103 29 1193 30 1286 31 1265 32 1255 33 1247 34 1236 35 1152 36 1128 37 1068 38 1015 39 1057 40 996 41 977 42 1061 43 1033 44 1146 45 1248 46 1317 47 1241 48 1297 49 1389 50 1370 51 1450 52 1433 53 x The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data. Click here for the Excel Data File a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. b. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. c-1. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. c-2. Which is the preferred technique for making the forecast?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...

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Question

Week	Customers
1	991
2	1047
3	1010
4	1004
5	1097
6	1176
7	1122
8	1050
9	969
10	877
11	882
12	823
13	833
14	894
15	948
16	897
17	964
18	1041
19	1035
20	977
21	1032
22	1058
23	1010
24	932
25	940
26	1027
27	1099
28	1103
29	1193
30	1286
31	1265
32	1255
33	1247
34	1236
35	1152
36	1128
37	1068
38	1015
39	1057
40	996
41	977
42	1061
43	1033
44	1146
45	1248
46	1317
47	1241
48	1297
49	1389
50	1370
51	1450
52	1433
53	x

The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data.

Click here for the Excel Data File

a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53.

Note: Do not round intermediate calculations. Round final answer to 2 decimal places.

b. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53.

Note: Do not round intermediate calculations. Round final answer to 2 decimal places.

c-1. Report the performance measures for the techniques in parts a and b.

Note: Do not round intermediate calculations. Round final answers to 2 decimal places.

c-2. Which is the preferred technique for making the forecast?

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