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The hospital's administration is considering the following forecasting methods. Begin error measurement in year 3 so all methods are compared for the same years. a
The hospital's administration is considering the following forecasting methods. Begin error measurement in year so all methods are compared for the same years.
a Exponential smoothing, with Let the initial forecast for year be the same as the actual demand.
b Exponential smoothing, with Let the initial forecast for year be the same as the actual demand.
d Twoyear moving average.
e Twoyear weighted moving average, using weights and with more recent data given more weight.
f If MAD is the performance criterion chosen by the administration, which forecasting method should it choose?
g If MSE is the performance criterion chosen by the administration, which forecasting method should it choose?
h If MAPE is the performance criterion chosen by the administration, which forecasting method should it choose?
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