John Has Collected the Following Information on the Amount of Tips

question 19

Short Answer

John has collected the following information on the amount of tips he has collected from parking cars the last seven nights.
a.Compute the 3-day moving averages for the time series.
b.Compute the mean square error for the forecasts.
c.Compute the mean absolute deviation for the forecasts.
d.Forecast John's tips for day 7.

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Definitions:

Assurance

Confidence or guarantee in the quality or performance of a product, service, or outcome.

Service Quality

Pertains to the degree of excellence of a service as perceived by customers, often evaluated based on expectations vs. performance.

Communication Gap

A situation where a misunderstanding or lack of clarity occurs due to differences in communication styles, language barriers, or misinterpretation of messages.

Empowerment Gap

The disparity between acquiring digital tools or platforms and having the genuine ability or empowerment to use them effectively.