- A Hotel Records The Following Number Of Visitors In Hundreds For A Period Of 12 Months Number Of Visitors 57 Month Ja 1 (51.71 KiB) Viewed 34 times
A hotel records the following number of visitors (in hundreds) for a period of 12 months. Number of visitors 57 Month Ja
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A hotel records the following number of visitors (in hundreds) for a period of 12 months. Number of visitors 57 Month Ja
A hotel records the following number of visitors (in hundreds) for a period of 12 months. Number of visitors 57 Month Jan 2016 Feb Mar Apr May June July Aug Sept Oct Nov Dec 64 76 85 96 102 97 107 115 73 89 95 a) Use a five-month moving average to forecast the number of visitors for January 2017 (2 marks) b) Use a four-month weighted moving average to forecast the number of visitors for January 2017. Use a weight of 0.4 for the most recent period, 0.3 for the next period back, 0.2 for the third period back and 0.1 for the fourth period back. (2 marks) c) Describe the advantage of using (b) over (a). (1 mark)