Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? The value of the forecast is 28.67 patients (round your response to two decimal places). b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? OA. The value of the forecast will remain the same. OB. The value of the forecast will increase OC. The value of the forecast will decrease.

Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? The value of the forecast is 28.67 patients (round your response to two decimal places). b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? OA. The value of the forecast will remain the same. OB. The value of the forecast will increase OC. The value of the forecast will decrease.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...

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The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
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