Answer Happy

The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows O Year Mileage 3 3.500 4 3,850 2 3,000 4,050 a) Using a 2-year moving average, the forecast for year 6-miles (round your response to the nearest whole number) b) If a 2-year moving average is used to make the forecast, the MAD based on this c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.40 and 0.60 d) Using exponential smoothing with a = 0.20 and the forecast for year 1 being 3.000, the forecast for year 6= 5 3.800 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data) miles (round your response to the nearest whole number miles (round your response to one decimal place). (Hint: You will have only 3 years of matched dats, miles (round your response to the nearest whole number).