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a) The forecasted demand for the week of October 12 using a 3-week moving average = 373.33 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.25, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = 373.3 pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 360 and a=0.30, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). Week Of August 31 September 7 September 14 September 21 Pints Used 360 372 412 378 Forecast for this Date 360 360.00 363.60

a) The forecasted demand for the week of October 12 using a 3-week moving average = 373.33 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.25, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = 373.3 pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 360 and a=0.30, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). Week Of August 31 September 7 September 14 September 21 Pints Used 360 372 412 378 Forecast for this Date 360 360.00 363.60

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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The following table provides data on the number of pints of type A blood used at Damascus Hospital over the past six weeks: | Week Of | Pints Used | |---------------|------------| | August 31 | 360 | | September 7 | 372 | | September 14 | 412 | | September 21 | 378 | | September 28 | 368 | | October 5 | 374 | ### Forecasting Methods: **a) 3-Week Moving Average:** - The forecasted demand for the week of October 12 using a 3-week moving average is **373.33** pints. **b) 3-Week Weighted Moving Average:** - Using weights of 0.20, 0.25, and 0.55 (with 0.55 for the most recent week), the forecasted demand for the week of October 12 is **373.3** pints. **c) Exponential Smoothing:** - With a forecasted demand of 360 for August 31 and a smoothing constant of α = 0.30, the forecasts are as follows: | Week Of | Pints Used | Forecast for this Date | |---------------|------------|------------------------| | August 31 | 360 | 360.00 | | September 7 | 372 | 360.00 | | September 14 | 412 | 363.60 | | September 21 | 378 | | The detailed calculations for the forecasts using different methods help in understanding future demand for blood, aiding effective inventory management strategies at the hospital.
Transcribed Image Text:The following table provides data on the number of pints of type A blood used at Damascus Hospital over the past six weeks: | Week Of | Pints Used | |---------------|------------| | August 31 | 360 | | September 7 | 372 | | September 14 | 412 | | September 21 | 378 | | September 28 | 368 | | October 5 | 374 | ### Forecasting Methods: **a) 3-Week Moving Average:** - The forecasted demand for the week of October 12 using a 3-week moving average is **373.33** pints. **b) 3-Week Weighted Moving Average:** - Using weights of 0.20, 0.25, and 0.55 (with 0.55 for the most recent week), the forecasted demand for the week of October 12 is **373.3** pints. **c) Exponential Smoothing:** - With a forecasted demand of 360 for August 31 and a smoothing constant of α = 0.30, the forecasts are as follows: | Week Of | Pints Used | Forecast for this Date | |---------------|------------|------------------------| | August 31 | 360 | 360.00 | | September 7 | 372 | 360.00 | | September 14 | 412 | 363.60 | | September 21 | 378 | | The detailed calculations for the forecasts using different methods help in understanding future demand for blood, aiding effective inventory management strategies at the hospital.
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