4.5 The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the antic- pated mileage to be driven next year. The miles driven during the past 5 years are as follows: YEAR 12345 MILEAGE 3,000 4,000 3,400 3,800 3,700 a) Forecast the mileage for next year (6th year) using a 2-year moving average. b) Find the MAD based on the 2-year moving average. (Hint: You will have only 3 years of matched data.) c) Use a weighted 2-year moving average with weights of 4 and .6 to forecast next year's mileage. (The weight of .6 is for the most recent year.) What MAD results from using this approach to forecasting? (Hint: You will have only 3 years of matched data.) d) Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 miles, and a = 5. Px

. 4.5 The Carbondale Hospital is considering the purtant of a new ambulance. The decision will rest party on the be driven next year. The miles driven during the past 5 years are as follows: a) Forecast the mileage for next year (6th year) using a 2-year moving average. b) Find the MAD based on the 2-year moving average. (Hint: You will have only 3 years of matched data.) c) Use a weighted 2-year moving average with weights of .4 and . 6 to forecast next year's mileage. (The weight of 6 is for the most recent year.) What MAD results from using this approach to forecasting? (Hint: You will have only 3 years of matched data.) d) Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 miles, and =.5