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