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:| Year | 1 | 2 | 3 | 4 | 5 ||---------|------|------|------|------|------|| Mileage | 3050 | 3950 | 3400 | 3750 | 3750 |a) Using a 2-year moving average, the forecast for year 6 = **3750** 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 = **116.7** miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = **3750** miles (round your response to the nearest whole number).The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)

Forecasting is a technique used to predict future outcomes on the basis of past data. Business…

Answered: a) Using a 2-year moving average, the…

Practical Management Science

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Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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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 gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Jan Number of Accidents 25 Feb 48 Mar 64 Apr 100 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): y = -1 + 24.10 x Using least-squares regression, the forecast for the number of accidents that will occur in the month of May response as a whole number). = accidents (enter your
a) Apply moving average and exponential smoothing to generate two forecasts of the closing price for the entire data period. Set appropriate values for the forecast parameters (e.g., k and a). b) Plot and compare the actual and predicted data values you calculated in part (b). Provide one chart that displays actual, moving average, and exponential smoothing lines. Hint: Calculate MSE, MAD, or MAPE to compare the different forecasts. Develop your own forecast from scratch. Do NOT use Excel’s Data Analysis or Forecast Sheets.
i need this to study stop canceling my questions A check-processing center uses exponential smooth- ing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the fore- cast was 42 million. A smoothing constant of .2 is used. a) What is the forecast for July?b) If the center received 45 million checks in July, what would be the forecast for August?c) Why might this be an inappropriate forecasting method for the situation
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Assume that the data in columns A and B report the new constructions of residential homes, per month, in thousands, from 2015 to 2020 in the state of Oregon. a) Chart the data. Discuss any apparent trend and seasonal patterns. b) Use the "Tahoe Salt" method with linear trend to forecast new constructions for the 12 months of 2021. c) Add your model values and forecast to the data chart. d) Compute the MAD of your model. e) Compute and plot the tracking signal in a new chart. f) Discuss the quality of this model. What is the flagrant flaw? g) Suggest an approach that would yield better results in terms of forecast values, MAD, and tracking signal. An appropriate narrative argument is sufficient (i.e., one or two sentences). You do not need to do calculations for this part.
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The following are monthly actual and forecast demand levels for May through December for units of a product manufactured by the Deborah Bishop Company in Des Moines: Month May June July August September October Actual Demand 105 82 110 112 108 106 130 120 Forecast Demand 100 108 97 98 108 102 105 107 November December For the given forecast, the tracking signal = MADS (round your response to two decimal places).
The following are monthly actual and forecast demand levels for May through December for units of a product manufactured by the Deborah Bishop Company in Des Moines: Month May June July August September October For the given forecast, the tracking signal = = MADS (round your response to two decimal places). November December Actual Demand 100 80 1/10 115 105 110 125 120 Forecast Demand 100 104 99 101 104 104 105 109
14 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places)
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