Boulevard Industries has decided to provide safety training to its 1,500+ employees who work in the...

 

Transcribed Image Text:

Boulevard Industries has decided to provide safety training to its 1,500+ employees who work in the Boulevard main office. Part of this training is a 60-minute presentation by a member of the Boulevard human resources (HR) department and is held in a conference room at the main office build- ing, Boulevard plans to complete this process by holding five sessions a day on Thursdays (Th) and Fridays (F) each week for the next 4 months. During the first week of sessions, the HR department recorded the follow-ing information concerning attendance. Session 1 2 3 4 5 6 7 8 9 10 Day Th Th Th Th Th F F F F F Time 9 a.m. 11 a.m. 2 p.m. 3 p.m. 4 p.m. 9 a.m. 11 a.m. 2 p.m. 3 p.m. 4 p.m. Attendance Forecast 10 10 10 8 7 10 10 10 8 7 Actual Attendance 13 10 12 12 8 11 9 9 4 7 Questions 1. During this first week of sessions, what was the mean error of the HR department's forecasts (ME)? What was the mean absolute deviation (MAD)? What was the mean absolute percent error (MAPE)? 2. Assume that the HR department's forecast for the Thursday 9 a.m. session was 10, as shown in the table. If HR had used simple exponential smoothing with an alpha (a) of 0.2 to forecast the remainder of the sessions that week, what would the fore- cast for the Friday 9 a.m. session have been? 3. Someone in HR noticed that overall attendance on Friday was somewhat less than on Thursday and believes this pattern will continue. Calculate the two seasonal rela- tives that express this fluctuation, based on this data. 4. Usingyouranswerfromquestion3,how many people would you forecast to attend next Friday's sessions, if a total of 100 people were forecast to attend all 10 sessions next week? Boulevard Industries has decided to provide safety training to its 1,500+ employees who work in the Boulevard main office. Part of this training is a 60-minute presentation by a member of the Boulevard human resources (HR) department and is held in a conference room at the main office build- ing, Boulevard plans to complete this process by holding five sessions a day on Thursdays (Th) and Fridays (F) each week for the next 4 months. During the first week of sessions, the HR department recorded the follow-ing information concerning attendance. Session 1 2 3 4 5 6 7 8 9 10 Day Th Th Th Th Th F F F F F Time 9 a.m. 11 a.m. 2 p.m. 3 p.m. 4 p.m. 9 a.m. 11 a.m. 2 p.m. 3 p.m. 4 p.m. Attendance Forecast 10 10 10 8 7 10 10 10 8 7 Actual Attendance 13 10 12 12 8 11 9 9 4 7 Questions 1. During this first week of sessions, what was the mean error of the HR department's forecasts (ME)? What was the mean absolute deviation (MAD)? What was the mean absolute percent error (MAPE)? 2. Assume that the HR department's forecast for the Thursday 9 a.m. session was 10, as shown in the table. If HR had used simple exponential smoothing with an alpha (a) of 0.2 to forecast the remainder of the sessions that week, what would the fore- cast for the Friday 9 a.m. session have been? 3. Someone in HR noticed that overall attendance on Friday was somewhat less than on Thursday and believes this pattern will continue. Calculate the two seasonal rela- tives that express this fluctuation, based on this data. 4. Usingyouranswerfromquestion3,how many people would you forecast to attend next Friday's sessions, if a total of 100 people were forecast to attend all 10 sessions next week?

Answer rating: 100% (QA)

Answer To calculate the mean error ME mean absolute deviation MAD and mean absolute percent error MAPE well use the following formulas Mean Error ME F... View the full answer