a. In the Bayside Fountain Hotel problem, compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be b. In the Bayside Fountain Hotel problem, for the exponentially smoothed forecast with an α value of .20, compute the mean absolute deviation (MAD) via Excel and/or POM-QM.c. In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 4 would be d. The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-seat arena that is home to the city's professional basketball and ice hockey teams and thathosts a variety of concerts, trade shows, and conventions throughout the year. The hotelhas experienced the following occupancy rates for the past 9 years, since the coliseumopened. Compute an exponentially smoothed forecast with an a value of .20. According tothe result from Excel and/or POM-QM, the forecast for the year 5 would be (type numberonly, two decimals)Year123456789Occupancy Rate (%)837875818685899086

The professional basketball and ice hockey teams of the city play their home games at the…

. In the Bayside Fountain Hotel problem, compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be b. In the Bayside Fountain Hotel problem, for the exponentially

. In the Bayside Fountain Hotel problem, compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be b. In the Bayside Fountain Hotel problem, for the exponentially

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 2.1CE

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Question

a. In the Bayside Fountain Hotel problem, compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be

b. In the Bayside Fountain Hotel problem, for the exponentially smoothed forecast with an α value of .20, compute the mean absolute deviation (MAD) via Excel and/or POM-QM.

c. In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20
and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 4 would be

The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-
seat arena that is home to the city's professional basketball and ice hockey teams and that
hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel
has experienced the following occupancy rates for the past 9 years, since the coliseum
opened. Compute an exponentially smoothed forecast with an a value of .20. According to
the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number
only, two decimals)
Year
1
2
3
4
5
6
7
8
9
Occupancy Rate (%)
83
78
75
81
86
85
89
90
86

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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