Question
The Surgical Intensive Care Unit would like to be better prepared by forecasting the number of surgical patients they should expect. The past 15 days
The Surgical Intensive Care Unit would like to be better prepared by forecasting the number of surgical patients they should expect. The past 15 days shows the following numbers of surgeries performed. Day Surgeries
Create the following forecasts: 2
Moving average (use 4 periods)
3 period weighted moving average with a weight of 5 for the past period, a weight of 3 for two periods ago and a weight of 1 for three periods ago. 6
Exponential smoothing with alphas of .40
Time series forecast
Additive decomposition (use 2, 3 and 4 seasons)
Day | Surgeries | |
1 | 10 | |
2 | 8 | |
3 | 12 | |
4 | 10 | |
5 | 9 | |
6 | 14 | |
7 | 11 | |
8 | 10 | |
9 | 15 | |
10 | 13 | |
11 | 13 | |
12 | 16 | |
13 | 14 | |
14 | 13 | |
15 | 18 |
4a) Complete the following table based on the output table below.
b)Which forecasting techniques appeared to do the best job for this data, explain?
method | MAD | MSE | 16 day forecast |
4 period Moving Avg | |||
Weighted Moving Avg | |||
Exp Smooth alpha=0.40 | |||
Time Series | |||
Add Decomp 2 seasons | |||
Add Decomp 3 seasons | |||
Add Decomp 4 seasons |
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