In Class Exercise (Forecasting)-1.doc

In Class Exercise (Forecasting)-1.doc - HST400 In Class...

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HST400 – In Class Exercise (Forecasting) Exercise Question 1 John is responsible for coming up with a forecast of the number of visitors to Metro Zoo. He has gathered the following data on the number of visitors over the last seven weeks: Week Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Visitors 620 730 880 700 830 1,020 900 Based on the data above, what is John’s forecast of the number of visitors for week 8 using each of the following methods? a) Naïve forecast. b) A three-period moving average c) A five-week weighted moving average using a weight of 0.3 for t-1, 0.25 for t-2, 0.2 for t-3, 0.15 for t-4 and 0.1 for t-5.
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