The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated
Posted: Sun Jul 03, 2022 3:17 pm
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=
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=