Reference no: EM132909524

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 Visitors
Week 1 620
Week 2 730
Week 3 880
Week 4 700
Week 5 830
Week 6 1020
Week 7 900

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 (i.e., one period before), 0.25 for t-2 (i.e., two periods before), 0.2 for t-3 (i.e., three periods before), 0.15 for t-4 (i.e., four periods before) and 0.1 for t-5 (i.e., five periods before).

d) An Exponential Smoothing method, assuming that the forecast for week 5 was 900, using a value of 0.3 for .