Question: Distinguish between a moving average model and an exponential smoothing model. A small family-owned restaurant uses a seven-day moving average model to determine manpower requirements.

Distinguish between a moving average model and an exponential smoothing model.

A small family-owned restaurant uses a seven-day moving average model to determine manpower requirements. These forecasts need to be seasonalized because each day of the week has its own demand pattern. The seasonal relatives for each day of the week are: Monday, 0.445; Tuesday, 0.791; Wednesday, 0.927; Thursday, 1.033; Friday, 1.422; Saturday, 1.478; and Sunday 0.903. Average daily demand based on the most recent moving average is 194 patrons. What is the seasonalized forecast for each day of next week?

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