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:YearMileage24,050a) 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 thisc) The forecast for year 6 using a weighted 2-year moving average with weights of 0.45 and 0.55 (the weight of 0.55 is for the most recent period)The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55 =d) Using exponential smoothing with a = 0.40 and the forecast for year 1 being 3,100, the forecast for year 6 ==13,10033,40043,80053,750miles (round your response to one decimal place). (Hint You will have only 3 years of matched data.)miles (round your response to the nearest whole number)miles (round your response to one decimal place) (Hint You will have only 3 years of matched data.)miles (round your response to the nearest whole number)

YearMileage13100240503340043800537506

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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