Winter’s method (with a 0.2, b 0.1, and g 0.5)is being used to forecast the number of customers servedeach day by Last National Bank. The bank is open Mondaythrough Friday. At present, the following seasonalities havebeen estimated: Monday, 0.80; Tuesday, 0.90; Wednesday,0.95; Thursday, 1.10; Friday, 1.25. A seasonality of 0.80 forMonday means that on a Monday, the number of customersserved by the bank tends to be 80% of average. Currently,the base is estimated to be 20 customers, and the trend isestimated to equal 1 customer. After observing that onMonday 30 customers are served by the bank, predict thenumber of customers to be served by the bank on Wednesday.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Winter’s method (with a 0.2, b 0.1, and g 0.5)
is being used to forecast the number of customers served
each day by Last National Bank. The bank is open Monday
through Friday. At present, the following seasonalities have
been estimated: Monday, 0.80; Tuesday, 0.90; Wednesday,
0.95; Thursday, 1.10; Friday, 1.25. A seasonality of 0.80 for
Monday means that on a Monday, the number of customers
served by the bank tends to be 80% of average. Currently,
the base is estimated to be 20 customers, and the trend is
estimated to equal 1 customer. After observing that on
Monday 30 customers are served by the bank, predict the
number of customers to be served by the bank on Wednesday.
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