Forecasting the Closing of the Akron Zoological Park

Powerful Essays
Topics: Zoo
Internet Case Study for Chapter 4: Forecasting
The Akron Zoological Park
During the early 1990s, changes in consumer preferences and changes in governmental priorities, almost resulted in the permanent closing of the Akron Children’s Zoo. Lagging attendance and a low membership level did not help matters. Faced with uncertain prospects, the city of Akron opted out of the zoo business. In response, the Akron Zoological Park was organized as a corporation to operate the zoo under contract with the city.
Annual Attendance at the Akron Zoological Park Admission Fee ($)
Year Total Persons Adult Child Group
2006 122,191 4.00 2.50 1.50
2005 123,336 4.00 2.50 1.50
2004 117,874 4.00 2.50 1.50
2003 125,363 3.00 2.00 1.00
2002 126,853 3.00 2.00 1.50
2001 108,363 2.50 1.50 1.00
2000 133,762 2.50 1.50 1.00
1999 95,504 2.00 1.00 .50
1998 63,034 1.50 .75 .50
1997 63,853 1.50 .75 .50
1996 61,417 1.50 .75 .50
1995 53,353 1.50 .75 .50
To be successful, the zoo must maintain its image as a quality place for its visitors to spend their time. Its animal exhibits are clean and neat. The animals, birds, and reptiles look well cared for. As resources become available for construction and continuing operations, the zoo also keeps adding new exhibits and activities. The independent organization’s efforts seem to be working, because attendance increased from 53,353 in 1995 to an all-time record of 133,762 in 2000.
Due to its northern climate, the zoo’s open season lasts from mid-April until mid-October. It reopens for 1 week at Halloween and for the month of December. Zoo attendance depends largely on the weather. For example, attendance was down during the month of December 2000, which established many local records for the coldest temperature and the most snow. Variations in weather also affect crop yields and prices of fresh animal foods, thereby influencing the costs of animal maintenance.
In normal circumstances, the zoo may be able to achieve its target goal

You May Also Find These Documents Helpful

  • Good Essays

    the initial effort, but the concept of a zoo for the Midlands of South Carolina persisted. In 1969 the South Carolina General Assembly created the Rich-Lex Riverbanks Park Special Purpose District, the legal and governing authority for what was to ultimately become Riverbanks Zoo and Garden. The seven-member Riverbanks Park Commission was established as the district’s governing authority. By creating Riverbanks as a Special Purpose District, the state legislature significantly expanded the…

    • 1603 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    Akron

    • 1471 Words
    • 5 Pages

    start with portray a short history and background for Akron Children’s hospital (its beginnings, development, current success). Then we will attempt to explain the research process conducted by Marcus Thomas LLC. Lastly we will analyze the outcome, effectiveness and the role of the research in Akron hospital’s success. 1. Akron Children’s hospital: a short history Akron Children’s Hospital was founded in 1890, in the friendly community of Akron, Ohio. The children’s hospital that started as a…

    • 1471 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Zoological Gardens

    • 1178 Words
    • 5 Pages

    Are zoological gardens the best way of preventing the extinction of endangered species? In order for one to understand the positives and negatives of zoological gardens and their potential to prevent the extinction of endangered animals, they must firstly understand the key terms, ‘zoological gardens’ and ‘preventing the extinction of endangered species,’ so that they are able to construct a coherent and structured response, which builds upon arguments that are placed forward by academic sources…

    • 1178 Words
    • 5 Pages
    Better Essays
  • Best Essays

    Study about Akron Children’s Hospital Executive Summary: In this paper, I will attempt to study the operation condition about Akron Children’s Hospital. First of all, I will briefly introduce the hospital’s basic information, including the beginning of its operation, its development process, and current situation. Then, we will focus on the Akron Children’s hospital’s current managerial problem. They want to by using the research to help them fix this problem. The research process is conducted…

    • 1571 Words
    • 7 Pages
    Best Essays
  • Satisfactory Essays

    The industrial history of Akron is one of the biggest economic changes and turbulence. Since the early 19th century Akron’s economy has been shaped and reshaped by ongoing processes of industrial restructuring driven by new industries, building on new innovations for new national markets, and the decline of industries challenged by changing patterns of competition from new innovations and new products in new places. The backdrop of these processes of economic change is drawn by national business…

    • 165 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Forecasting

    • 623 Words
    • 17 Pages

    FORECASTING Q1: Moving averages are often used to identify movements of stock prices. Weekly closing prices (in $ per share) for Toys Я Us for 22 September, 1997, through December 8, 1997, are as follows (Prudential Securities Inc); Month Sept 22 Sept 29 Oct 6 Oct 13 Oct 20 Oct 27 Nov 3 Nov 10 Nov 17 Nov 24 Dec 1 Dec 8 Fund Price 37.8750 35.6250 34.6875 33.5625 32.6250 34.0000 33.6250 35.0625 34.0625 34.1250 33.2500 32.0625 a. Use a 3-month simple moving average…

    • 623 Words
    • 17 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Forecasting

    • 492 Words
    • 2 Pages

    Forecasting Cassandra Harris HSM/260 5/3/2015 Cynthia Cucuzza Forecasting Exercise 9.1 The following data represent total personnel expenses for the Palmdale Human Service Agency for past four fiscal years: 20 X 1 = $5,250,000 20 X 2 = $5,500,000 20 X 3 = $6,000,000 20 X 4 = $6,750,000 Forecast personnel expenses for fiscal year 20X5 using moving averages weighted moving averages, exponential smoothing, and time series regression. For moving averages and weighted moving averages, use only the data…

    • 492 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Forecasting

    • 881 Words
    • 4 Pages

    Forecasting BUS446: Production Control (CFM1316A) Monday, April 29, 2013 Forecasting In the business world today, companies use forecasting methods to implement processes and strategies in order to meet organizational goals. Forecasting will allow a company to plan for possible outcomes, making adjustments to inventory levels and staff. Through forecasting, companies will attempt to keep operating costs at a manageable level without sacrificing production and quality.…

    • 881 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    Forecasting

    • 794 Words
    • 4 Pages

    Forecasting is the process of making statements about events whose actual outcomes (typically) have not yet been observed. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgemental methods. Usage can differ between areas of application: for example, in hydrology…

    • 794 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Forecasting

    • 1319 Words
    • 6 Pages

    Forecasting Business forecasting is the process of studying historical performance for the purpose of using the information gained to project future business conditions so that decisions can be made today that will assist in the achievement of certain goals. Forecasting involves taking historical date and using it to project future data with a mathematical model. Forecasts are extensively used to support business decisions and direct the work of operations managers. In this paper I will introduce…

    • 1319 Words
    • 6 Pages
    Better Essays