Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand opening, the corporate office hired recruiters to sign-up potential members by soliciting them in the parking lot of the shopping center. Each day, they recorded the number of potential new members. Here is the data collected over the first week: DAY 1 2 3 4 5 6 7 # OF MEMBERS 72 59 68 82 99 87 104 A. Find the forecast for periods 3 to 8 using a 2-period weighted average with weights (0.2 and 0.8) B. Find the forecast for periods 2 to 8 using an exponential smoothing model with an alpha value of 0.2. Use 72 as the day 1 forecast. C. Find the Mean Absolute Deviation (MAD) for each of these forecasts. D. Based on the given data and your MAD calculation, which forecast will better predict the number of potential members in the future? Crunch fitness is opening a new gym in a popular shopping center. Prior to their grand opening, the corporate office hired recruiters to sign-up potential members by soliciting them in the parking lot of the shopping center. Each day, they recorded the number of potential new members. Here is the data collected over the first week: DAY 1 2 3 4 5 6 7 # OF MEMBERS 72 59 68 82 99 87 104 A. Find the forecast for periods 3 to 8 using a 2-period weighted average with weights (0.2 and 0.8) B. Find the forecast for periods 2 to 8 using an exponential smoothing model with an alpha value of 0.2. Use 72 as the day 1 forecast. C. Find the Mean Absolute Deviation (MAD) for each of these forecasts. D. Based on the given data and your MAD calculation, which forecast will better predict the number of potential members in the future?
Expert Answer:
Answer rating: 100% (QA)
A To find the forecast for periods 3 to 8 using a 2period weighted average with weights 02 and 08 yo... View the full answer
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
Posted Date:
Students also viewed these finance questions
-
What is the term for a method of controlling inventory that accurately determines the adequate amount of inventory?
-
You are asked to develop a Floppy Disk program that allows users to access a floppy disk locally mounted on a computer. You are expected to use C programming language. In your program, all file I/O...
-
The following data on air pollution in 41 U. S. cities are from Biometry (Sokal and Rohlf, 1981). The type of air pollution under study is the annual mean concentration of sulfur dioxide. The values...
-
Why is using APA Style important for effective scholarly writing?
-
The discovery of the element argon by Lord Rayleigh and Sir William Ramsay had its origins in Rayleigh's measurements of the density of nitrogen with an eye toward accurate determination of its molar...
-
Give the structure of the product derived by intramolecular aldol condensation of the keto aldehyde shown: O CHI KOH. H-0 CH CCH CCHOCHIoO CH3
-
The mean number of droughts in Asia per year from 1980 through 2008 was about 3.24. Find the probability that the number of droughts in Asia in any given year from 1980 through 2008 are (a) exactly...
-
Gomez Company issued $380,000, 7%, 10-year bonds on January 1, 2014, for $407,968. This price resulted in an effective-interest rate of 6% on the bonds. Interest is payable annually on January 1....
-
Different situation now. You re out in space, on a rotating wheel-shaped space station of radius 1085 m. You feel planted firmly on the floor , due to artificial gravity. The gravity you experience...
-
Last year, at Northern Manufacturing Company, 200 people had colds during the year. One hundred fifty-five people who did no exercising had colds, and the remainders of the people with colds were...
-
Philip recently received his Ph.D in psychology. Most of his courses focused specifically on the various physical, social, and mental processes that occur in an individual s lifetime, from infancy to...
-
When Quineboag Textile's sales revenue increased from $5.0 million to $5.25 million, net operation income increased from $500,000 to $575,000.what is Quineboag's degree of operating leverage (DOL)?
-
Briefly describe the three basic groups common to all corporations and how the distinctions between these groups can become blurred in small private corporations.
-
Explain if Ford, Harvey or Suzuki have breached their directors duty to exercise their powers with care, skill, and diligence and if so, what defences may be available. Use the IRAC structure to...
-
Regarding the good Samaritan Law in the state of Maryland, what is stated in the law and what is the importance of the law?
-
Valuation with price/earnings multiples For the firm shown in the following table, use the data given to estimate its common stock value employing price/earnings (P/E) multiples. (Click on the icon...
-
The reaction between propionyl chloride and acetate ion is outlined below. a) Complete the mechanism of the forward reaction by placing curved arrows to show the electron movements in the reactants...
-
What kind of financial pressures can an LBO cause?
-
One of the significant costs for a nonpublic college or university is student aid in the form of gifts and grants awarded to students because of academic potential or performance, and/or financial...
-
A bookkeeper prepared the year-end financial statements of Giftwrap, Inc. The income statement showed net income of $47,400, and the balance sheet showed ending retained earnings of $182,000. The...
-
Assume that a company chooses an accelerated method of calculating depreciation expense for financial statement reporting purposes for an asset with a five-year life. Required: State the effect...
-
If task A is an immediate predecessor of task B, what must be true about the sched- uled timing of these two tasks?
-
Why does a project necessarily have to possess some form of deadline? What is the implication of a project without a deadline?
-
What are the likely consequences to managing a highly uncertain project in the predictive style of project management?
Study smarter with the SolutionInn App