Question
The Carbondale Hospital is considering the purchase of ambulance. The decision will rest partly pn the anticipated mileage to be driven next year. The miles
The Carbondale Hospital is considering the purchase of ambulance. The decision will rest partly pn the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows:
Year | Mileage |
1 | 3050 |
2 | 4000 |
3 | 3450 |
4 | 3750 |
5 | 3800 |
a) Using a 2 year moving average, the forecast for year 6=______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 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)=_____miles (round your response to the nearest whole number) (Hint: You will have only 3 years of matched data.) d) Using exponential smoothing with =0.20 and the forecast for year 1 being 3,050, the forecast for year 6=_____miles(round your response to the nearest whole number)
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