Hi, I need help solving for part C. Thank you. 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:YearMileage53,750a) Using a 2-year moving average, the forecast for year 6 = 3775 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 = 66.7 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) = miles (round your response to the nearest whole number).13,10024,05033,50043,800

YearMileage1310024050335004380053750Weight 1 = 0.65Weight 2 = 0.35

c) The forecast for year 6 using a weighted 2-year moving average with weights f 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = miles (round your response to the nearest whole number).

c) The forecast for year 6 using a weighted 2-year moving average with weights f 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = miles (round your response to the nearest whole number).

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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Hi, I need help solving for part C. Thank you.

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
Mileage
5
3,750
a) Using a 2-year moving average, the forecast for year 6 = 3775 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 = 66.7 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) = miles (round your response to the nearest whole number).
1
3,100
2
4,050
3
3,500
4
3,800

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