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 Driven201520162017201820192020202120223,2401,2113,2083,2532,1692,2241,1621,074Using 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.)NumberUsing 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 previousas 0.1) what is the forecast for 2023? (Display your answer to the nearest whole number.)Number

Moving average Forecasting: Moving average forecast is a forecasting technique that is used to…

Answered: FC.51 Madison Memorial Hopsital is…

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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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 milles driven during the past 5 years are K as follows Year Mileage 3,000 2 3 4,000 3,400 4 3,800 5 3,700 a) Using a 2-year moving average, the forecast for year 6- 3750 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 miles (round your response to a whole number). (Hint: You will have only 3 years of matched data)
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