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The number of heart surgeries performed at Heartviile General Hospital has increased steadily over the past several years The hospital's administration is seeking the best
The number of heart surgeries performed at Heartviile General Hospital has increased steadily over the past several years The hospital's administration is seeking the best method to forecast thedemand for such surgeries in year 5 The data for the past ve years are shown below 1: Year 1 2 3 4 5 Demand 41 47 51 55 52 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 i. Exponential smoothing with a = 0 G Let the initial forecast foryear 1 be 41' the same as the actual demand Exponential smoothing with = 0 '3 Let the initial forecast foryear 1 be 41' the same as the actual demand rend projection with regression or iv. Two-year moving average v. Two-year weighted moving average using weights 0 6 and 0 4' with the more recent data given more weight If MAD is the performance criterion chosen by the administration which forecasting method should it choose? V If MSE is the performance criterion chosen by the administration which forecasting method should it choose? V If MAPE is the performance criterion chosen by the administration which forecasting method should it choose? V
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