Question
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 | 3,100 | 3,950 | 3,450 | 3,850 | 3,750 |
Part 2a) Using a 2-year moving average, the forecast for year 6 =
38003800
miles (round your response to the nearest whole number).Part 3b) If a 2-year moving average is used to make the forecast, the MAD based on this =
108.3108.3
miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)Part 4c) The forecast for year 6 using a weighted 2-year moving average with weights of
0.40
and
0.60
(the weight of
0.60
is for the most recent period) =
37903790
miles (round your response to the nearest whole number).Part 5The MAD for the forecast developed using a weighted 2-year moving average with weights of
0.40
and
0.60
=
enter your response here _____ miles (round your response to one decimal place).(Hint: You will have only 3 years of matched data.)
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