Homework Help is Here – Start Your Trial Now!
Business
Operations Management
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 Mileage 1 3,000 2 4,050 3 3,450 4 3,800 5 3,800 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 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3800 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65= miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)

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 Mileage 1 3,000 2 4,050 3 3,450 4 3,800 5 3,800 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 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3800 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65= miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)

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
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 | Mileage | |------|---------| | 1 | 3,000 | | 2 | 4,050 | | 3 | 3,450 | | 4 | 3,800 | | 5 | 3,800 | **a)** Using a 2-year moving average, the forecast for year 6 is **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** 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = **3800** miles (round your response to the nearest whole number). **d)** The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = **___** miles (round your response to one decimal place). *(Hint: You will have only 3 years of matched data.)*
Transcribed Image Text: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 | Mileage | |------|---------| | 1 | 3,000 | | 2 | 4,050 | | 3 | 3,450 | | 4 | 3,800 | | 5 | 3,800 | **a)** Using a 2-year moving average, the forecast for year 6 is **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** 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = **3800** miles (round your response to the nearest whole number). **d)** The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = **___** miles (round your response to one decimal place). *(Hint: You will have only 3 years of matched data.)*
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE 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