Every night the employees who work at the salon predict how many guests will come in on the next day. The number of quest for Monday, Tuesday, Wednesday and Thursday were 35, 26, 33, and 18 respectively.
What would be the forecast for Friday using the following:
a)A Naïve forecast method?
b)A three (3) day moving average?
Expert Answer
Answer:- Naïve forecast method: -44Forecast for the next period =Actual demand of the last period
thus the guests expected on Friday = Guests on Thursday =18
Answer:- A three (3) day moving average = average of the actual guest arrival for last three days
the guests
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