Adjusted exponential smoothing forecast and linear trend

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Reference no: EM1316026

Compute the exponential and adjusted exponential smoothing forecast and linear trend forecasting. Compare it by MAD and E.
The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-seat arena that is home to the city's professional basketball team and ice hockey teams 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:

Year Occupancy Rate (%)
1 83
2 78
3 75
4 81
5 86
6 85
7 89
8 90
9 86

Compute an exponential smoothing forecast with a=.20, an adjusted exponential smoothing forecast with a=.20 and b=.20, and a linear trend forecast. Compare the three forecasts, using MAD and average error (E), and indicate which seems to be most accurate.

Reference no: EM1316026

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