Homework Help is Here – Start Your Trial Now!
Business
Operations Management
The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year​ follows:                                                                    Week Actual No. of Patients 1 85 2 88 3 96 4 80 5 84 6 93 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 0.500 on the present​ period, 0.250 one period​ ago, 0.125 two periods​ ago, and 0.125 three periods ago. Part 2 ​a) What is the value of your​ forecast? The value of the forecast is _________patients ​(round your response to two decimal​ places). c) The mean absolute deviation based on a​ 2-day moving average​ = _______ degrees ​(round your response to one decimal​ place). d)The mean squared error based on a​ 2-day moving average​ of =_____ degrees 2​(round your response to one decimal​ place). e) ​The mean absolute percent error( MAPE) based on a​ 2-day moving average​ = _________ % ​(round your response to one decimal​ place).

The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year​ follows:                                                                    Week Actual No. of Patients 1 85 2 88 3 96 4 80 5 84 6 93 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 0.500 on the present​ period, 0.250 one period​ ago, 0.125 two periods​ ago, and 0.125 three periods ago. Part 2 ​a) What is the value of your​ forecast? The value of the forecast is _________patients ​(round your response to two decimal​ places). c) The mean absolute deviation based on a​ 2-day moving average​ = _______ degrees ​(round your response to one decimal​ place). d)The mean squared error based on a​ 2-day moving average​ of =_____ degrees 2​(round your response to one decimal​ place). e) ​The mean absolute percent error( MAPE) based on a​ 2-day moving average​ = _________ % ​(round your response to one decimal​ place).

Practical Management Science
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...
See similar textbooks
icon
Related questions
Question

2. 

The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year​ follows:
 
                                                                    
Week
Actual No. of Patients
1
85
2
88
3
96
4
80
5
84
6
93
 
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
0.500
on the present​ period,
0.250
one period​ ago,
0.125
two periods​ ago, and
0.125
three periods ago.
Part 2
​a) What is the value of your​ forecast?
 
The value of the forecast is _________patients ​(round your response to two decimal​ places).
c) The mean absolute deviation based on a​ 2-day moving average​ = _______ degrees ​(round your response to one decimal​ place).
d)The mean squared error based on a​ 2-day moving average​ of =_____ degrees 2​(round your response to one decimal​ place).
e) ​The mean absolute percent error( MAPE) based on a​ 2-day moving average​ = _________ % ​(round your response to one decimal​ place).
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Optimization models
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS