Forecasting and Analysis

The Eastland Plaza Branch of the Indiana University Credit Union was having trouble getting the correct staffing levels to match customer arrival patterns. On some days, the number of tellers was too high relative to the customer traffic, so that tellers were often idle. On other days, the opposite occurred. Long customer waiting lines formed because the relatively few tellers could not keep up with the number of customers. The credit union manager, James Chilton, knew that there was a problem, but he had little of the quantitative training he believed would be necessary to find a better staffing solution. James figured that the problem could be broken down into three parts. First, he needed a reliable forecast of each days number of customer arrivals. Second, he needed to translate these forecasts into staffing levels that would make an adequate trade-off between teller idleness and customer waiting. Third, he needed to translate these staffing levels into individual teller work assignmentswho should come to work when.

The last two parts of the problem require analysis tools (queueing and scheduling) that we have not covered. However, you can help James with the first partforecasting. The file lists the number of customers entering this credit union branch each day of the past year. It also lists other information: the day of the week, whether the day was a staff or faculty payday, and whether the day was the day before or after a holiday. Use this data set to develop one or more forecasting models that James could use to help solve his problem. Based on your model(s), make any recommendations about staffing that appear.

Each case study must be original discussion and analysis, not counting the title page, reference page, figures, tables, and appendixes. The statements in each Case Study must be supported by biblicalintegration and at least 2 scholarly references, cited throughout the narrative and placed on the reference list in the APA format. Case Study assigned questions are listed in the chart below.

Note: Your assignment will be checked for originality via the Turnitin plagiarism tool. The tool is a starting point for instructors to check overall Academic Integrity and higher scores generally indicate a higher probability of Academic Misconduct. The higher a score the higher the probability that there are too high a percentage of quotations included in the narrative, and/or there are passages that have not been properly cited.