(Attendance at Orlando\'s newest Disneylike attraction, Lego World, has been as
ID: 387417 • Letter: #
Question
(Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows:
Guests
(In thousands)
Guests
(In thousands)
Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal
places):
QuarterGuests
(In thousands)
QuarterGuests
(In thousands)
Winter Year 1 63 Summer Year 2 125 Spring Year 1 89 Fall Year 2 52 Summer Year 1 168 Winter Year 3 94 Fall Year 1 75 Spring Year 3 156 Winter Year 2 64 Summer Year 3 210 Spring Year 2 84 Fall Year 3 99Explanation / Answer
Seasonal index calculation:
Year 1 year 2 year 3
Winter 63 64 94
Spring 89 84 156
Summer 168 125 210
Fall 75 52 99
The above table is the same values given in the question; just it has been represented differently.
To calculate the indices, we can take the average of the values:
Year 1 year 2 year 3 average / mean
Winter 63 64 94 73.67
Spring 89 84 156 109.67
Summer 168 125 210 167.67
Fall 75 52 99 75.33
Next we can divide the values by their respective mean:
Year 1 year 2 year 3
Winter 63/73.67 = 0.855 64/73.67 = 0.869 94/73.67 = 1.276
Spring 89/109.67=0.812 84/109.67=0.766 156/109.67=1.422
Summer 168/167.67=1.002 125/167.67=0.746 210/167.67=1.252
Fall 75/75.33= 0.996 52/75.33=0.690 99/75.33= 1.314
Now we can take the mean of these indices to get the seasonal value
Winter = 0.855+0.869+1.276/3 = 1
Spring = 0.812+0.766+1.422/3 = 1
Summer = 1.002+.746+1.252/3 = 1
Fall = .996+0.690+1.314/3 = 1
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