Question: Table below shows the data on customer demand for the past 4 weeks: Mon Tue Wed Thu Week 1 1 5 0 1 7 8
Table below shows the data on customer demand for the past weeks:
Mon Tue Wed Thu
Week
Week
Week
Week
a What forecasting method is appropriate? Why?
b Determine initial values of parameters required to initiate the model.
c Assume that the observed demand for the first day of week was Using and
and update the estimates of the series, the slope and the seasonal
factors.
d What are the forecasts made at the end of the first day of week for the remaining three
days of week
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