Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this yearfollows: Week Actual No. of Patients 1

2.

The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this yearfollows:

Week Actual No. of Patients
1 85
2 88
3 96
4 80
5 84
6 93

Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demandlevels, with weights of

0.500

on the presentperiod,

0.250

one periodago,

0.125

two periodsago, and

0.125

three periods ago.

Part 2

a) What is the value of yourforecast?

The value of the forecast is _________patients (round your response to two decimal places).

c) The mean absolute deviation based on a 2-day moving average = _______ degrees (round your response to one decimal place).

d)The mean squared error based on a 2-day moving average of =_____ degrees 2(round your response to one decimalplace).

e) The mean absolute percent error( MAPE) based on a 2-day moving average = _________ % (round your response to one decimal place).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Entrepreneurship and Beyond

Authors: Timothy s. Hatten

5th edition

538453141, 978-0538453141

More Books

Students also viewed these General Management questions