Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the Johannesburg – Cape Town route, are as follows for the past 12 weeks: Passenger kilometres Week (1 000) 1 17 2 21 19 23 18 6 16 7 20 8 18 9. 22 10 20 11 15 12 22 The company needs to determine aircraft capacity requirement for week 13. To this end pax-km forecasts for week 13 are required. Assist the company and establish the weekly forecasts by using the following methods: • A four-week moving average • A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most recent week) • Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000 pax-km)
Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the Johannesburg – Cape Town route, are as follows for the past 12 weeks: Passenger kilometres Week (1 000) 1 17 2 21 19 23 18 6 16 7 20 8 18 9. 22 10 20 11 15 12 22 The company needs to determine aircraft capacity requirement for week 13. To this end pax-km forecasts for week 13 are required. Assist the company and establish the weekly forecasts by using the following methods: • A four-week moving average • A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most recent week) • Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000 pax-km)
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Systems Of Equations
Section11.CT: Test
Problem 24CT
Related questions
Question
Transcribed Image Text:Passenger kilometres (pax-km) flown on Golden Airlines, a commuter firm serving the
Johannesburg – Cape Town route, are as follows for the past 12 weeks:
Passenger kilometres
Week
(1 000)
17
2
21
19
4
23
18
6
16
20
8.
18
9.
22
10
20
11
15
12
22
The company needs to determine aircraft capacity requirement for week 13. To this end
pax-km forecasts for week 13 are required. Assist the company and establish the weekly
forecasts by using the following methods:
• A four-week moving average
• A four-week weighted moving average (weight = 0.45, 0.35, 0.15 & 0.05 from the most
recent week)
• Exponential smoothing with a = 0.2. (Assuming an initial forecast for week 1 of 17,000
pax-km)
• Trend regression
Which of these techniques would you recommend that the company use?
What is the pax-km forecast for week 15?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning