As you can see in the following table, demand for heart transplant surgery at Washington General Hospital
Question:
As you can see in the following table, demand for heart transplant surgery at Washington General Hospital has increased steadily in the past few years:
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The director of medical services predicted 6 years ago that demand in year 1 would be 41 surgeries.
(a) Use exponential smoothing, first with a smoothing constant of .6 and then with one of .9, to develop forecasts for years 2 through 6.
(b) Use a 3-year moving average to forecast demand in years 4, 5, and 6.
(c) Use the trend-projection method to forecast demand in years 1 through 6.
(d) With MAD as the criterion, which of the four forecasting methods isbest’?
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a Exponential smoothing a 06 Exponential Absolute Year Demand Smoothing a 06 Deviation 1 45 41 40 2 ...View the full answer
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