Homework Help is Here – Start Your Trial Now!
Business
Operations Management
My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique?

My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...
See similar textbooks
icon
Related questions
Question
100%

It wouldnt let me take a screenshot of the table so I had to copy and paste it in here. 
My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique?

Discussion Question 1 - 200 room hotel                          
        Forecasts   MA 2 Errors MA 4 Errors ES (0.8) Errors ES (0.5) Errors
  Date Day of Week Rooms Sold MA 2 MA 4 ES (0.8) ES (0.5)   AE APE AE APE AE APE AE APE
  6/1/2021 Tuesday 123                          
  6/2/2021 Wednesday 109                          
  6/3/2021 Thursday 140                          
  6/4/2021 Friday 199                          
  6/5/2021 Saturday 179                          
  6/6/2021 Sunday 140                          
  6/7/2021 Monday 117                          
  6/8/2021 Tuesday 132                          
  6/9/2021 Wednesday 108                          
  6/10/2021 Thursday 151                          
  6/11/2021 Friday 182                          
  6/12/2021 Saturday 168                          
  6/13/2021 Sunday 161                          
  6/14/2021 Monday 119                          
  6/15/2021 Tuesday 133                          
  6/16/2021 Wednesday 139                          
  6/17/2021 Thursday 146                          
  6/18/2021 Friday 168                          
  6/19/2021 Saturday 188                          
  6/20/2021 Sunday 147                          
  6/21/2021 Monday 110                          
  6/22/2021 Tuesday 136                          
  6/23/2021 Wednesday 134                          
  6/24/2021 Thursday 133                          
  6/25/2021 Friday 182                          
  6/26/2021 Saturday 178                          
  6/27/2021 Sunday 137                          
  6/28/2021 Monday 137                          
  6/29/2021 Tuesday 134                          
  6/30/2021 Wednesday 133                          
  7/1/2021 Thursday ?                          
106                 MAE MAPE MAE MAPE MAE MAPE MAE MAPE
                                 
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

How did you get 106 for 7/1/2021?

For the forecast, how would you calculate an exponential smoothing model using alpha = 0.5 and 0.8. What is the prediction for 7/1/2021 for each technique?

Solution
Bartleby Expert
SEE SOLUTION
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing
SEE MORE TEXTBOOKS