Management, 13Th Edition
13th Edition
ISBN: 9780133910292
Author: Stephen P. Robbins & Mary A. Coulter
Publisher: PEARSON
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Chapter 2, Problem 16DQ
Summary Introduction
To determine:
The way in which revenue analytics can help managers in making good decisions.
Introduction:
Decision making comprises selecting the best alternative out of available alternatives so as to come up with a solution for the problem at hand. It is also considered as a balance and check system that ensure the growth of the organization in both linear as well as vertical directions.
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Sarah Anderson, the Marketing Manager at Exeter Township's Cultural Center, is conducting research on the attendance history for cultural events in the area over the past ten years. The following data has been collected on the number of attendees who registered for events at the cultural center.
Year
Number of Attendees
1
700
2
248
3
633
4
458
5
1410
6
1588
7
1629
8
1301
9
1455
10
1989
You have been hired as a consultant to assist in implementing a forecasting system that utilizes various forecasting techniques to predict attendance for Year 11.
a) Calculate the Three-Period Simple Moving Average
b) Calculate the Three-Period Weighted Moving Average (weights: 50%, 30%, and 20%; use 50% for the most recent period, 30% for the next most recent, and 20% for the oldest)
c) Apply Exponential Smoothing with the smoothing constant alpha = 0.2.
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