Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven follows: Using a
Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven follows: Using a 2-year moving average, the forecast for year 6= miles (round your response to the nearest whole number). a 2-year moving average is used to make the forecast, the MAD based on this = miles (round your response to two decimal places). he MSE for the forecast based on a 2-year movinfy average = (round your response to the nearest integer). The MAPE for the forecast based on a 2-year moving average = (round your response to four decimal places). b) The forecast for year 6 using a weighted 2-year moving average with weights of 0.45 and 0.55 (the weight of 0.55 is for the most recent period) = whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55= miles (round your response to two c) According to the MAD you have calculated in part a) and part b), which model performs better? A. the weighted 2-year moving average model B. the 2-year moving average model d) Using exponential smoothing with =0.40 and the forecast for year 1 being 3,000 , the forecast for year 6=
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started