Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The manager of the health clinic would also like to use exponential smoothing to forecast demand for emergency services in the facility. However, she is

image text in transcribedimage text in transcribedimage text in transcribed

The manager of the health clinic would also like to use exponential smoothing to forecast demand for emergency services in the facility. However, she is not sure whether to use a high or low value of a. To make her decision, she would like to compare the forecast accuracy of a high and low a on historical data. She has decided to use an a=0.6 for the high value and a=0.2 for the low value. For both alpha values, enter exponential smoothing forecasts for weeks 2-6, and calculate the MAD for each alpha value. (Round answers to 2 decimal place, e.g. 15.25.) Initatilize the computations using the nave method Exponential Smoothing Forecasts Week Demand a=0.2 a=0.6 1 2 3 4 5 6 415 315 375 462 509 364 MAD (a) which value of a do you think would be better to use? It would be better to use a= (b) Is your answer the same as in part above? The answer is

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Supply Chain Revolution

Authors: Suman Sarkar

1st Edition

9780814438787

More Books

Students also viewed these General Management questions