Question: Dave is a manager of a local AT& T Wireless retail store. He would like to forecast the number of customers walking into his retail

Dave is a manager of a local AT& T Wireless retail store. He would like to forecast the number of customers walking into his retail store per day to improve his staffing decisions. The following data show the number of customers who entered Dave€™s store during the last eight days. These data can also be found in the Excel file daily customers. xlsx.

a. Forecast the number of customers who will visit Dave€™s store on Day 9 using a three period simple moving average.
b. Calculate the MAD for the forecast in part a.
c. Forecast the number of customers who will visit Dave€™s store on Day 9 using exponential smoothing with Î± = 0.1.
d. Calculate the MAD for the forecast in part c.
e. In which forecast do you have the most confidence?

Day Customers 260 243 232 277 270 285 248 254

Step by Step Solution

★★★★★

3.37 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b MAD 11965 2392 c F 9 2602 012540 2602 2596 d MAD 12267 1751 e The forecast using e... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

483-M-S-F (267).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Draw (approximately) the moment diagram for member ACE of the portal constructed with a rigid member EG and knee braces CF and DH. Assume that all points of connection are pins. Also determine the...

Which brands do you have the most resonance with? Why?

The y intercept value can also be found by using the equation = - b Verify this result by using the data in Exercises 15 and 16 of Sections 101 and 102. Exercise 15: The director of an alumni...

The value of the correlation coefficient can also be found by using the formula r = bsx / sy Where sx is the standard deviation of the x values and sy is the standard deviation of the y values....

Questions for Discussion 1. What are the major issues in this case? What does Walmart's experience tell you about the business and society relationship? 2. Assess Walmart's corporate social...

With the given information, if the case involves a company's or manager's actions, evaluate what the company or manager did or did not correctly in handling the issue affecting it. How should actions...

Please answer the following questions: 1. What are the major issues in this case? What does Walmarts experience tell you about the business and society relationship? 2. Assess Walmarts corporate...

Identified International Business issues in your case study Presented solutions in relation to the issues/challenges that you have identified Flipkart: journey of an Indian e-commerce start-up...

look into the transcription of the videos that we coded for the Dominance project and identify if there are any errors (grammar and spelling and etc): 1673015005057.mp4 Baseline 181 Baseline181 Hi,...

Question 1 - What should Mh's launch strategy be, and why? What organizational capabilities will be critical to Mh's success? Question 2 - With reference to a relevant strategy framework, assess the...

Describe the five basic forms of departmentalization.

a) Given the following scenario for a company database system: ORDER (OrderNo, OrderQty, OrderDate, OrderStatus. Prodid{FK}, Suppld{FK}) PRODUCT (Prodld, ProdName. ProdQty) SUPPLIER (Suppld,...

7. Draw Venn diagrams for the following propositions. Some housing developments are complexes that exclude children.

Kevin lives in Calgary and wants to buy a 2013 Tesla Model S electric vehicle. The best price he can find for a low-mileage model in Alberta is $95,000. (No GST would be pay-able on this private...

Three tension rods are bolted to a gusset plate (Figure P4.6, see on page 170). Determine the magnitude and direction of their resultant. Use the (a) Vector algebra and (b) Vector polygon methods....

Sara, a recent graduate, accepts a position at a small engineering design firm. Her new colleagues form a tightly knit, congenial group, and she often joins them for get togethers after work. Several...

Illustrate all the steps of the adaptable priority queue call replaceKey(e, 18) for entry e storing (5, A) in the heap of Figure 9.1. (4,C) (5,A) (6,Z) (15,) (9,F) (7,Q) (20,B) (16,X) (25,J) (14,E)...

Hudson Signs, Inc., needs funds, and Alley Hudson, the president, has asked you to consider investing in the business. Answer the following questions about the different ways that Hudson might...

True or False Total risk of a firm is determined by the combined effect of operating and financial leverages.

Use the values in the joint probability table to solve the equations given. a. P(E B) =_____ b. P(C F) =_____ c. P(E D)=_____ D EF A .12.13.08 B .18.0904 C .06.24.06

a. A batch of 50 parts contains six defects. If two parts are drawn randomly one at a time without replacement, what is the probability that both parts are defective? b. If this experiment is...

The U.S. Energy Department states that 60% of all U.S. households have ceiling fans. In addition, 29% of all U.S. households have an outdoor grill. Suppose 13% of all U.S. households have both a...

Additional Funds Needed The Booth Company's sales are forecasted to double from $1,000 in 2021 to $2,000 in 2022. Here is the December 31, 2021, balance sheet: Cash $ 100 Accounts payable $ 50...

You recently purchased a stock that is expected to earn 12% in a booming economy, 8% in a normal economy and lose 10% in a recessionary economy. There is a 15% probability of a boom, a 75% chance of...

6a)You have the following capital budgeting timeline with their periods and cash flows: 0 = ?, 1 = $4500, 2 = $4900, 3 = ?, 4 = ?, 5 = $4000, 6 = $3750. The terminal value of the project is...