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 5years are as follows:YearMileage13,05024,05033,45043,85053,700a) 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 = miles (round your response to one decimal place). (Hint: You will have only 3 years of matcheddata.)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) = miles (round your response to thenearest 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 only3 years of matched data.)d) Using exponential smoothing with a = 0.30 and the forecast for year 1 being 3,050, the forecast for year 6 =miles (round your response to the nearest whole number).

Forecastin's primary goal of forecasting is to decrease uncertainty and make corrective decisions by…

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

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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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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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).
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