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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: Year 1 2 3 4 5 Mileage 4,000 3,500 3,750 3,800 3,050 a) Using a 2-year moving average, the forecast for year 6 = miles (round your response to the nearest whole number). The following table shows the actual demand observed over the last 11 years: - Year 1 4 5 7 11 2 9 3 5 6 7 8 12 9 9 10 11 Demand 7 10 13 12 7 Using exponential smoothing with a = 0.40 and a forecast for year 1 of 6.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place) 1 2 3 4 5 6 7 8 9 10 11 12 Year Forecast 6.0
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