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Forecasting Student Appointments It is time for advising and the undergraduate office needs to plan for demand for services. The staff meets with students on a walk-in basis from 8:30-4:30 Monday throught Friday. Staff are on-call to come in as needed. Each person can handle about 10 students per day. The advising period goes for four weeks. They have been tracking the daily number of students for the first two weeks and want to use this information for planning the remaining two weeks. They are using the data to determine the number of staff on a day-by-day basis. Help then decide how many to have in the office on Monday of Week Three. Exponent ial Exp Student Smoothi Smoothi Appoint 3-day 2-day 3 day ng alpha ng with Period ments Nave moving moving weighted = .2 Alpha=.7 90 90 Monday 90 80 Tuesday 90 90 90 Wednesda 65 80 85 88 83 85 Thursday 65 78 73 73 83 70 Friday 80 85 77 75 80 84 81 Monday 80 80 77 83 78 84 80 Tuesday 70 80 82. 80 81 83 80 60 70 Wednesda 77 75 74 80 73 Thursday 75 60 70 65 66 76 64 Friday 60 75 68 68 71 72 76 Monday's Forecast 60 65 68 63 73 64 Complete the vellow boxes in the table to the left to answer the following questions Bound to whole numbers Complete the yellow boxes in the table to the left to answer the following questions. Round to whole numbers. 1. What does the naive forecast suggest as the number of student appointments that can be expected on Monday of Week Three? 2. What is the forecast using a 3-day simple moving average? What would it be for a 2-day simple moving average? 3. What is the 3 day moving average with most recent weighted at.6? 4. What would the Monday forecast be using exponential smoothing with alpha of 0.2? 5. What would the forecast be using exponential smoothing with alpha of 0.7? How many should be in the office on Monday? Which forecasting option seems most reasonable and why? Reviewing the first two weeks of data, are there any trends or cyclic variations to consider? The data you have may not be sufficient to make an informed operations management decision. Discuss in sufficient detail what else would be valuable as decisions are made