Give typed full explanation The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows:WEEK/0914ACTUAL NO. OFPATIENTS6523/09/24202718b1083-849681234S6486352202218bt083-84968-2023/09/24-20221861081968-2023/09/24-20221861083-84968-20209/Clinic administrator wants you to forecast patient demand the clinic for week 7 by using this data. You decide to use a weighted moviraverage method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 in the present period, 0.25 one pericago, 0.25 two periods ago, and 0.167 three periods ago.a) What is the value of your forecast?218b1083-84968-2b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7?c) Calculate the MAPE for both cases083-84968-20 witweek-202218b1000210 forec84968-2093-84

One of the methods of forecasting is the weighted average forecast. It is a method in which weights…

Answered: a) What is the value of your forecast?…

a) What is the value of your forecast? b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7? 083-849 c) Calculate the MAPE for both cases 202218

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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Question

Give typed full explanation

The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows:
WEEK/0914
ACTUAL NO. OF
PATIENTS
65
23/09/24202718b1083-84968
1
2
3
4
S
6
48
63
52
202218bt083-84968-2023/09/24-2022186108
1968-2023/09/24-20221861083-84968-202
09/
Clinic administrator wants you to forecast patient demand the clinic for week 7 by using this data. You decide to use a weighted movir
average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 in the present period, 0.25 one peric
ago, 0.25 two periods ago, and 0.167 three periods ago.
a) What is the value of your forecast?
218b1083-84968-2
b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7?
c) Calculate the MAPE for both cases
083-84968-20 wit
week-202218b1000
210 forec
84968-20
93-84

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Step 1: Introduce weighted average forecast:

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Step 2: Calculate the forecast value

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Step 3: Calculate MAPE

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Step 4: Calculate forecast with new weights

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Step 5: Calculate MAPE with new weights

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