Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

41. The actual number of patients at a hospital for the first six weeks of this year follows: Week Actual No. of Patients 87 2

image text in transcribed
41. The actual number of patients at a hospital for the first six weeks of this year follows: Week Actual No. of Patients 87 2 89 3 96 4 80 5 86 6 95 The hospital wants you to forecast patient numbers at the hospital 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 demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. The value of the forecast is 89.17 patients. If instead the weight were 20, 15, 15, and 10, respectively, how would the forecast change? A. The value of the forecast will increase B. The value of the forecast will remain the same C. The value of the forecast will decrease

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

Detecting Accounting Fraud Analysis And Ethics

Authors: Cecil Jackson

1st Edition

0133078604, 9780133078602

More Books

Students also viewed these Accounting questions