For Platinum Nugget Hotel in Las Vegas, Saturday is the best day of the week for business. The gambling take for the hotel on Saturdays over the past four weeks was:
Week $Take
1. $250,000
2. $190,000
3. $300,000
4. $280,000
Platinum Nugget uses a three-period weighted moving average to forecast demand, with a t = 0.6, at?1 = 0.3, and at?2 = 0.1. What is the forecast for week 5?
A. $232,000
B. $237,000
C. $277,000
D. $295,000
C. $277,000
Explanation:
(.6($280,000) + .3($300,000) + .1($190,000))/3 = $277,000
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