Jace collected the following data on the quarterly room occupancy (in hundreds) for a resort hotel...

60.1K

Verified Solution

Question

Statistics

Jace collected the following data on the quarterly roomoccupancy (in hundreds) for a resort hotel in Iowa.
Year
quarter
Occupancy
2013
1
16
2
21
3
9
4
18
2014
1
15
2
20
3
10
4
18
2015
1
17
2
24
3
13
4
22
2016
1
17
2
25
3
11
4
21
2017
1
18
2
26
3
14
4
25
Plot the data and describe any trend and seasonal effects youobserve in the data.
Compute and interpret the seasonal indices.
Jaceâ€™s manager, Joseph, wants Jace to forecast the occupancyfor four quarters of 2018. Can you help him (Forecast he roomoccupancy for four quarters of 2018)?

Answer & Explanation Solved by verified expert

4.1 Ratings (774 Votes)

AIn this graph we see that there is an increasing trend in thisdataand there is seasonality in the data The Occupancy ratedrops every 3rd quarter and then gradually increases and peaks in2nd quarterBOccupancyYear20132014201520162017AverageSeasonal See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Year	quarter	Occupancy
2013	1	16
	2	21
	3	9
	4	18
2014	1	15
	2	20
	3	10
	4	18
2015	1	17
	2	24
	3	13
	4	22
2016	1	17
	2	25
	3	11
	4	21
2017	1	18
	2	26
	3	14
	4	25