The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data. Week Customers 1 944 2 997 3 962 4 956 5 1045 6 1120 7 1069 8 1000 9 923 10 835 11 840 12 784 13 793 14 851 15 903 16 854 17 918 18 991 19 986 20 930 21 983 22 1008 23 962 24 888 25 895 26 978 27 1047 28 1050 29 1136 30 1225 31 1205 32 1195 33 1188 34 1177 35 1097 36 1074 37 1017 38 967 39 1007 40 949 41 930 42 1010 43 984 44 1091 45 1189 46 1254 47 1182 48 1235 49 1323 50 1305 51 1381 52 1365 1. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. 2. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. 3. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. 4. Which is the preferred technique for making the forecast?
The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data. Week Customers 1 944 2 997 3 962 4 956 5 1045 6 1120 7 1069 8 1000 9 923 10 835 11 840 12 784 13 793 14 851 15 903 16 854 17 918 18 991 19 986 20 930 21 983 22 1008 23 962 24 888 25 895 26 978 27 1047 28 1050 29 1136 30 1225 31 1205 32 1195 33 1188 34 1177 35 1097 36 1074 37 1017 38 967 39 1007 40 949 41 930 42 1010 43 984 44 1091 45 1189 46 1254 47 1182 48 1235 49 1323 50 1305 51 1381 52 1365 1. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. 2. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. 3. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. 4. Which is the preferred technique for making the forecast?
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...
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The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data.
| Week | Customers |
| 1 | 944 |
| 2 | 997 |
| 3 | 962 |
| 4 | 956 |
| 5 | 1045 |
| 6 | 1120 |
| 7 | 1069 |
| 8 | 1000 |
| 9 | 923 |
| 10 | 835 |
| 11 | 840 |
| 12 | 784 |
| 13 | 793 |
| 14 | 851 |
| 15 | 903 |
| 16 | 854 |
| 17 | 918 |
| 18 | 991 |
| 19 | 986 |
| 20 | 930 |
| 21 | 983 |
| 22 | 1008 |
| 23 | 962 |
| 24 | 888 |
| 25 | 895 |
| 26 | 978 |
| 27 | 1047 |
| 28 | 1050 |
| 29 | 1136 |
| 30 | 1225 |
| 31 | 1205 |
| 32 | 1195 |
| 33 | 1188 |
| 34 | 1177 |
| 35 | 1097 |
| 36 | 1074 |
| 37 | 1017 |
| 38 | 967 |
| 39 | 1007 |
| 40 | 949 |
| 41 | 930 |
| 42 | 1010 |
| 43 | 984 |
| 44 | 1091 |
| 45 | 1189 |
| 46 | 1254 |
| 47 | 1182 |
| 48 | 1235 |
| 49 | 1323 |
| 50 | 1305 |
| 51 | 1381 |
| 52 | 1365 |
1. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53.
Note: Do not round intermediate calculations. Round final answer to 2 decimal places.
2. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53.
Note: Do not round intermediate calculations. Round final answer to 2 decimal places.
3. Report the performance measures for the techniques in parts a and b.
Note: Do not round intermediate calculations. Round final answers to 2 decimal places.
4. Which is the preferred technique for making the forecast?
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