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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 Mileage 1 3,100 2 4,000 3 3,500 4 3,850 5 3,800 C a) Using a 2-year moving average, the forecast for year 6= 3825 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 = 91.7 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 45 and 0.55 (the weight of 0 55 is for the most recent period) = 3823 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 45 and 0 55 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data)
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