Answered step by step
Verified Expert Solution
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: a) Using a 2-year moving average, the forecast for year 6=3775 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 = miles (round your response to one decima/ place). (Hint. You will have anly 3 years of matchod dato.) c) The forecast for year 6 using a woighted 2 -yoar moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) = 3780 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 0.40 and 0.60= miles (round your response to one docimat place). (Hint You will have only 3 years of matched data.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started