Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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:
\table[[Year,1,2,3,4,5],[Mileage,3,050,4,050,3,400,3,800,3,800]]
a) Using a 2-year moving average, the forecast for year 6=3800 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 =141.7 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)=3800 miles (round your response to the nearest whole number).
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).(Hint: You will have only 3 years of matched data.)
image text in transcribed

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

Operations Management Processes and Supply Chains

Authors: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman

11th edition

978-0133872460, 133872467, 133872130, 978-0133872682, 133872688, 978-0133872132

More Books

Students also viewed these General Management questions

Question

Calculate the largest poverty percentage rate in cell J 1 7 . 1 0

Answered: 1 week ago