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 miles driven during the past 5 years are as​ follows: Year    1    2    3    4    5 Mileage    3,000    4,050    3,450    3,800    3,800 ​a) Using a​ 2-year moving​ average, the forecast for year 6​ = 38003800 miles ​(round your response to the nearest whole​ number). ​a) Using a​ 2-year moving​ average, the forecast for year 6​ = 3800 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​ = 100.0 miles ​(round your response to one decimal​ place). ​ (Hint: You will have only 3 years of matched​ data.) ​c) The forecast for year 6 using a weighted​ 2-year moving average with weights of 0.45 and 0.55 ​(the weight of 0.55 is for the most recent​ period) =  ?  miles ​(round your response to the nearest whole​ number).

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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 miles driven during the past 5 years are as​ follows:

Year    1    2    3    4    5
Mileage    3,000    4,050    3,450    3,800    3,800

​a) Using a​ 2-year moving​ average, the forecast for year 6​ =
38003800
miles ​(round your response to the nearest whole​ number).
​a) Using a​ 2-year moving​ average, the forecast for year 6​ = 3800 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​ =
100.0 miles ​(round your response to one decimal​ place). ​ (Hint: You will have only 3 years of matched​ data.)

​c) The forecast for year 6 using a weighted​ 2-year moving average with weights of 0.45 and 0.55 ​(the weight of 0.55 is for the most recent​ period) =  ?  miles ​(round your response to the nearest whole​ number).

 

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d) Using exponential smoothing with α ​= 0.40 and the forecast for year 1 being 3,000​, the forecast for year 6​ = ? miles ​(round your response to the nearest whole​ number).

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Follow-up Question

The MAD for the forecast developed using a weighted​ 2-year moving average with weights of 0.45 and 0.55 ​= ? miles ​(round your response to one decimal​ place). ​(Hint: You will have only 3 years of matched​ data.) 

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