Las Vegas Visitors Case Study Essay Example

create multiple forecasting scenarios using Holt and Winters' exponential smoothing methods to estimate future revenue and support decision-making concerning vehicle replacement or expansion. After numerous predictions it was determined that the Winters' exponential smoothing method offered the most precise projection of visitors due to its lowest absolute error as seen in the excel document in the appendices. The forecast model suggests a slight growth rate in Las Vegas visitors with seasonal highs and lows consistent with original observations according to graphs generated using Winters' exponential smoothing method.

To predict the number of visitors to Las Vegas, it is recommended that Denis use Winters' exponential smoothing forecast as it has the lowest absolute error compared to other methods. Despite seasonal fluctuations, the forecast models suggest a slight growth in Las Vegas visitors. Dimmitt plans to replace three of their oldest vehicles and add two more with bank financing. However, due to limited growth prospects, it is advisable for Dimmitt to only update the three oldest vehicles and not expand their limousine fleet with two additional vehicles at this time.