Question: A local bank is using Winters method with
A local bank is using Winters’ method with α = 0.2, β = 0.1, and γ = 0.5 to forecast the number of customers served each day. The bank is open Monday through Friday. At the end of the previous week, the following seasonal indexes have been estimated: Monday, 0.80; Tuesday, 0.90; Wednesday, 0.95; Thursday, 1.10; Friday, 1.25. Also, the current estimates of level and trend are 20 and 1. After observing that 30 customers are served by the bank on this Monday, forecast the number of customers who will be served on each of the next five business days.
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