Question: A local bank is using Winters' method with = 0 . 2 , = 0 . 1 , and = 0 . 5 to forecast
A local bank is using Winters' method with and 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, ; Tuesday, ; Wednesday, ; Thursday, ; Friday, Also, the current estimates of level and trend are and After observing that 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. Round your answers to one decimal place, if necessary. Assume Monday is one business day from Friday and provide forecast for Tues, Wed, Thu, Fri, and the following Monday
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
