U Credit Union Case Study: Time Series Analysis
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The U Credit Union is open Monday through Saturday. The Winters' method is being used (a = B = y = 0.5) to predict the number of customers entering the bank each day. After incorporating the arrivals of 16 October, Lt = 200, Tt = 1, and the "seasonalities" are as follows: Monday, 0.90; Tuesday, 0.70; Wednesday, 0.80; Thursday, 1.1; Friday, 1.2; Saturday, 1.3. For example, the number of customers entering the bank on a typical Monday is 90% of the number of customers entering the bank on an average day. On Tuesday, 17 October, 182 customers enter the bank. At the close of business on 17 October, forecast the number of customers who will enter the bank on 25 October.
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Solution Summary
The solution forecasts the number of customers who will enter the bank on the 25th of October with a time series analysis.
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