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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year.
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: 0 Year Mileage 1 2 3 4 5 3,050 3,950 3,400 3,750 3,700 a) Using a 2-year moving average, the forecast for year 6 3725 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this 100.0 miles (round your response to one decimal place). (Hint. You will have only 3 years of matched data) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.35 and 0.65 (the weight of 0.65 is for the most recent period)-3717.5 miles (round your response to the nearest whole number). rary (Hint: You will have only 3 years of matched data) The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65- miles (round your response to one decimal place)
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