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2) The manager of a small health clinic would like to use exponential smoothing to forecast demand for laboratory services in their facility. Yet, she
2) The manager of a small health clinic would like to use exponential smoothing to forecast demand for laboratory services in their facility. Yet, she is not sure whether to use a high or a low value of . To make her decision, she would like to compare the forecast accuracy of a high and low on historical data. She has decided to use an = 0.7 for the high value and =0.1 for the low value. Given the following historical data, which do you think would be better use? Week Lab Requirements 1 330 2 350 3 320 4 370 5 368 6 343
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