FC.51 Madison Memorial Hopsital is considering purchasing a new ambulance. The decision will rest partly on the anticipated mileage to be driven this year (2023). The miles driven during the past eight years are as follows: Year Miles Driven 2015 2016 2017 2018 2019 2020 2021 2022 LL 3,240 1,211 3,208 3,253 2,169 2,224 1,162 1,074 Using a 4-year moving average, what would be the forecast for the miles to be driven in 2023? (Display your answer to the nearest whole number.) Number Using a 4-year weighted moving average (with last year's weight as 0.5, two years previous as 0.2; three years previous as 0.2, and four years previous as 0.1) what is the forecast for 2023? (Display your answer to the nearest whole number.) Number
FC.51 Madison Memorial Hopsital is considering purchasing a new ambulance. The decision will rest partly on the anticipated mileage to be driven this year (2023). The miles driven during the past eight years are as follows: Year Miles Driven 2015 2016 2017 2018 2019 2020 2021 2022 LL 3,240 1,211 3,208 3,253 2,169 2,224 1,162 1,074 Using a 4-year moving average, what would be the forecast for the miles to be driven in 2023? (Display your answer to the nearest whole number.) Number Using a 4-year weighted moving average (with last year's weight as 0.5, two years previous as 0.2; three years previous as 0.2, and four years previous as 0.1) what is the forecast for 2023? (Display your answer to the nearest whole number.) 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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
Transcribed Image Text:FC.51 Madison Memorial Hopsital is considering purchasing a new ambulance. The decision will rest partly on the anticipated mileage to be driven this year
(2023). The miles driven during the past eight years are as follows:
Year Miles Driven
2015
2016
2017
2018
2019
2020
2021
2022
3,240
1,211
3,208
3,253
2,169
2,224
1,162
1,074
Using a 4-year moving average, what would be the forecast for the miles to be driven in 2023? (Display your answer to the nearest whole number.)
Number
Using a 4-year weighted moving average (with last year's weight as 0.5, two years previous as 0.2; three years previous as 0.2, and four years previous
as 0.1) what is the forecast for 2023? (Display your answer to the nearest whole number.)
Number
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