Question

the management of the bst inn estimated that they can generate $182,000 and $190,000 in room revenues in 2010 and 2011 respectively by using some other forecasting methods. however, the total room revenues were actually $187,000 and $203,000 in 2010 and 2011 respectively. finance and accounting directors in the management team wants to come up with a robust forecasting report and they want to see the forecasting results done with exponential smoothing models. therefore, if the management wishes to have 3,000 rooms sold in 2012. what is the forecasted adr in 2012 based on the exponential smoothing model? group of answer choices $69.79 $66.80 $70.27 $73.12

Answer 1

The forecasted ADR in 2012 based on the exponential smoothing model is 70.27$ among the group of choices.

The purpose of forecasting

Businesses can improve their adjustments if they have knowledge of both current data and predictions for the future. Forecasts assist firms in modifying their existing operations and streamlining their plans to change prospective outcomes.

What is the forecasting procedure?

Making predictions based on historical and current data is the process of forecasting. Later, these might be contrasted (resolved) with what transpires. An organization can, for instance, forecast its revenue for the following year and then contrast that projection with the actual outcomes. Similar but more generic is the phrase "prediction."

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