The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated

Post by answerhappygod »

The Carbondale Hospital is considering the purchase of a newambulance. The decision will rest partly on the anticipated mileageto be driven next year. The miles driven during the past 5 yearsare as follows                                                                                      
Year
1
2
3
4
5
Mileage
3,100
4,000
3,450
3,850
3,800
Part 2
​a) Using a​ 2-year moving​ average, the forecast foryear 6​ ____________ miles ​(round your response to thenearest whole​ number).
b. ​b) If a​ 2-year moving average is used to makethe​ forecast, the MAD based on this​___________________ miles ​(round your response to onedecimal​ place). ​ (Hint: You will have only 3 years ofmatched​ data.)
c. the forecast for year 6 using aweighted​ 2-year moving average with weights of 0.45 and0.55 (the weight of 0.55 is for the most recent​ period)____________miles ​(round your response to the nearestwhole​ number).
d. Using exponential smoothing with a=0.50 and theforecast for year 1 being 3100 ​, the forecast for year 6​=
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply