The company 'Investment4u' also wants to forecast how many contacts from clients there will be in...

 

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The company 'Investment4u' also wants to forecast how many contacts from clients there will be in January in order to decide how many financial advisors they should have available. They aim to provide excellent service to all the clients. For this reason, they have collected the weekly number of client contacts in the last three months of year 2021 and reported it in Table 2: Table 2: Number of client contacts Month Week No of client contacts October 1 2 3 4 November 1 2 4 December 1 2 3 301 295 340 370 312 296 376 397 335 298 409 433 Questions B.1 Use an appropriate moving average to identify the trend for number of client contacts. Plot the trend on a time-series graph, along with the actual data. Present this chart in your Word document along with comments on the trend. [15 marks] B.2 Use the additive model and the multiplicative model to calculate the seasonal indices and then the predicted number of client contacts. Present the two forecasts along with the actual data in a table in your Word document. Decide which model is the most appropriate and give justification for your decision in the Word document. [25 marks] B.3 Use the model chosen in question B.2 to forecast the number of client contacts for January (assume 4 weeks). Present the forecast for each week in January in a table in your Word document. [10 marks] B.4 There are many other models used for forecasting. Choose one method discussed in the literature and explain the benefits of your chosen method. Please remember to paraphrase, i.e. do not copy exactly from your sources. The company 'Investment4u' also wants to forecast how many contacts from clients there will be in January in order to decide how many financial advisors they should have available. They aim to provide excellent service to all the clients. For this reason, they have collected the weekly number of client contacts in the last three months of year 2021 and reported it in Table 2: Table 2: Number of client contacts Month Week No of client contacts October 1 2 3 4 November 1 2 4 December 1 2 3 301 295 340 370 312 296 376 397 335 298 409 433 Questions B.1 Use an appropriate moving average to identify the trend for number of client contacts. Plot the trend on a time-series graph, along with the actual data. Present this chart in your Word document along with comments on the trend. [15 marks] B.2 Use the additive model and the multiplicative model to calculate the seasonal indices and then the predicted number of client contacts. Present the two forecasts along with the actual data in a table in your Word document. Decide which model is the most appropriate and give justification for your decision in the Word document. [25 marks] B.3 Use the model chosen in question B.2 to forecast the number of client contacts for January (assume 4 weeks). Present the forecast for each week in January in a table in your Word document. [10 marks] B.4 There are many other models used for forecasting. Choose one method discussed in the literature and explain the benefits of your chosen method. Please remember to paraphrase, i.e. do not copy exactly from your sources.

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B1 To identify the trend for the number of client contacts we can use a 4week moving average The 4week moving average is calculated by taking the average of the client contacts for the current week an... View the full answer