2. Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons...

   

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2. Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since its opening in January 1993. For the first six months of operation, the following figures were recorded: Month Number of Patrons January 143 February 183 March 285 April 640 Мay 1,876 June 2,550 Let the smoothing constant have values: a= 0.15, and B = 0.10. Suppose that the actual number of patrons for July was 2,150 and the number in August was 2,660. a) Compute through regression analysis in Excel the values of the intercept, a, and the slope, b, using the data from January to June (round the numbers to two decimal places). b) The regression analysis at question a) provides the values of Lo equal to the intercept a, and To equal to the slope 6. Use Holt's Method to update the estimates of the level and trend for the months of July and August (by doing one-step ahead forecast update starting from January). (You can use excel to reduce your work, but please show your calculation for at least one complete round of update to show your correct understanding) c) What are the one-month ahead and two months-ahead forecasts made at the end of August, according to Holt's method? d) What is the Forecast made at the end of July for the number of park patrons in December? 2. Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since its opening in January 1993. For the first six months of operation, the following figures were recorded: Month Number of Patrons January 143 February 183 March 285 April 640 Мay 1,876 June 2,550 Let the smoothing constant have values: a= 0.15, and B = 0.10. Suppose that the actual number of patrons for July was 2,150 and the number in August was 2,660. a) Compute through regression analysis in Excel the values of the intercept, a, and the slope, b, using the data from January to June (round the numbers to two decimal places). b) The regression analysis at question a) provides the values of Lo equal to the intercept a, and To equal to the slope 6. Use Holt's Method to update the estimates of the level and trend for the months of July and August (by doing one-step ahead forecast update starting from January). (You can use excel to reduce your work, but please show your calculation for at least one complete round of update to show your correct understanding) c) What are the one-month ahead and two months-ahead forecasts made at the end of August, according to Holt's method? d) What is the Forecast made at the end of July for the number of park patrons in December?

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A Plot the points and draw the straight line such that The almost sam... View the full answer