Question: need help with all three! (For Questions 1,2,3--Use the worksheet Forecasting-1.) John, the owner of Caf Ruben, is interested in the weekly number of customers.
need help with all three!
(For Questions 1,2,3--Use the worksheet "Forecasting-1".) John, the owner of Caf Ruben, is interested in the weekly number of customers. Assume John is at the end of week 11. He has the following table, showing the number of customers for the last 11 weeks. Week # of customers 320 1 2. 416 3 432 4 401 5 316 6 412 7 328 8 408 9 380 10 289 11 300 5 316 412 328 408 6 7 8 9 e- 380 10 289 11 300 If he uses a 3-week simple moving average to forecast the number of customers in week 12, then he gets customers forecasted in week 12. (if necessary, express to 1 decimal place, such as xxx.x) Assume John is at the end of week 12. Week # of customers 1 320 2. 416 3 432 4 401 316 5 6 412 7 328 8 408 9 380 10 289 11 300 12 404 John is disappointed at the end of week 12 because what he forecasted using a 3-week simple moving average was very different from the actual number of customers, 404 customers, in week 12. John is disappointed at the end of week 12 because what he forecasted using a 3-week simple moving average was very different from the actual number of customers, 404 customers, in week 12. Susan is John's associate. Her forecast for week 12, based on simple mean from week 1 to week 11, was 364(rounded) customers, which turned out to be closer to the actual number of customers. They decide to use an exponential smoothing method with a = 0.7 to forecast the number of customers in week 13, using Susan's forecast of 364 customers for week 12. Week # of customers Forecast using exponential smoothing 12 404 364 13 ? They obtain customers as a forecast for week 13 using an exponential smoothing method with a = 0.7. (Calculate to 2 decimal places if necessary.) Assume John is at the end of week 16. Susan and John have decided to keep using the exponential smoothing forecast method with a = 0.7 and are forecasting for week 17. (You calculated their forecast for week 13 in Question 2. Their forecasts for week 14 to 16 are not on the table. Calculate yourself.) What is their forecast for week 17 if they continue using the exponential smoothing forecast method with a = 0.7 ? (Express to 1 decimal places if necessary) customers. Week # of customers Forecast using exponential smoothing 12. 404 364 13 419 ? 14 312 ? 15 356 ? 16 364 ? 17




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