Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this fore- cast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.25 one period ago, 0.25 two peri- ods ago, and 0.167 three periods ago. a) What is the value of your forecast? PX b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? Explain why. =) What if the weights were 0.40, 0.30, 0.20. and 0.10. respec- tively? Now what is the forecast for week 72

Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this fore- cast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.25 one period ago, 0.25 two peri- ods ago, and 0.167 three periods ago. a) What is the value of your forecast? PX b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? Explain why. =) What if the weights were 0.40, 0.30, 0.20. and 0.10. respec- tively? Now what is the forecast for week 72

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

need help

data given, which method would allow you to fore-
cast next March's sales? PX
smooth-
ath. The
he fore-
. 4.7
The actual demand for the patients at Omaha
Emergency Medical Clinic for the first 6 weeks of this year fol-
lows:
ould be
ACTUAL NO. OF
PATIENTS
WEEK
1
hod for
65
62
3
urchase
antici-
ing the
70
4
48
63
52
Clinic administrator Marc Schniederjans wants you to forecast
patient demand at the clinic for week 7 by using this data. You
decide to use a weighted moving average method to find this fore-
cast. Your method uses four actual demand levels, with weights
of 0.333 on the present period, 0.25 one period ago, 0.25 two peri-
ods ago, and 0.167 three periods ago.
a) What is the value of your forecast? PX
b) If instead the weights were 20, 15, 15, and 10, respectively, how
would the forecast change? Explain why.
c) What if the weights were 0.40, 0.30, 0.20. and 0.10. respec-
tively? Now what is the forecast for week 73
2-year
(Hint:

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