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Management Studies

Question: Vinod Malhotra is trying to decide how many wait staff he will need to support his restaurant operations for the next month. First he needs to identify a suitable forecasting model to estimate next month's demand. He is considering three alternative models:

Model 1: Four-month moving average

Model 2: Four-month weighted moving average with weights 5 .1, .2, .3, .4.

Model 3: Exponential smoothing with a = 0.7

Based on past performance, which model should Vinod use?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92758324

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