Hello All,
Some important information for this question:
The following gives the number of pints of type B blood used at Woodlawn Hospital in
the past 6 weeks:
A. Forecast the demand for the week of October 12 using a 3-week moving average.
4asdIn statistics, a moving average is a calculation to analyze data points by creating a series of
averages of different selections of the full data set. It is also called a moving mean or rolling
mean and is a type of finite impulse response filter. Variations include: simple, cumulative, or
weighted forms. In order to calculate a 3-week moving average, the last three weeks will be
taken into account. The first step is to get the total between the three then divide the total by the
total number of weeks we are taking into account for this moving average, which is 3.
374+368+381= 1,123 (combined)
1,123/3= 374.33
B. Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the
most recent week. Forecast demand for the week of October 12.
The weighted moving average is a technical indicator that assigns a greater weighting to the most
recent data points, and less weighting to data points in the distant past. The weighted moving
average is obtained by
multiplying each number in the data set by a predetermined weight and
summing up the resulting values
.
October 5
374 * (0.6) = 224.4
September 28
368 * (0.3) = 110.4
September 21
381 * (0.1 )=
38.1
=372.9
C.
Compute the forecast for the week of October 12 using exponential smoothing
with a forecast for August 31 of 360 and
α=.2
