The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly onthe anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows:YearMileage13,00024,05033,450453,8003,800miles (round your response to the nearesta) Using a 2-year moving average, the forecast for year 6 =whole number).

The miles driven during 5 years: Year12345Mileage 30004050345038003800

Answered: The Carbondale Hospital is considering…

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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QWE Inn has recorded the following number of rooms sold for the first quarter of the year: January 2100 February 2500 March 2550 What is the 3-month moving average forecast of rooms sold equal to for the month April?
Please do not give solution in image format thanku A small manufacturing firm has recorded a time series of the cost per unit for the firm’s leading product over the past eight years. Year 1 2 3 4 5 6 7 8 Cost/Unit ($) 20 24.5 28.2 27.5 26.6 30 31 36 a) If you are not given a base value or trend, what would be the forecast for the year 10 made at the end of year 8 (α=0.2, β=0.4). b) Forecast for the year 9 using 1) 5-month weighted average using 0.1,0.1,0.1,0.2,0.3, with the heaviest weight applied to the recent month 2) Exponential smoothing using α =0.2 and forecast of 21 for year 5 3) If α value was not provided in the question above, what value of α would you choose?
A ski resort has recorded its recent sales as follows (in $$). Season 2 years ago Last year This year Spring 700 950 900 Summer 450 500 400 Fall 1,150 1,100 1,350 Winter 1,400 1,500 1,600 The resort estimated that the annual demand for the next year will be 4,800. What would be the forecast for next Fall? Answer: _______
Please forecast the mileage for 2013 (in 10) using a weighted average method with a 0.6 as a weight for the most recent period and 0.4 for the next. Keep one decimal place
The Dean of a faculty wants to forecast student enrolments for this academic year based on the following historical data: (5 years ago enrolment was 11770 ), (4 years ago enrolment was 15251), (3 years ago enrolment was 15785 ), (2 years ago enrolment was 16076 ) and in the last year enrolment was 19001 . What is the forecast for this year using exponential smoothing with alpha=0.58999997 , if the forecast for two years ago was :17623 a. 16710.27 b. 18061.801 c. 17801.75 d. 17386.035
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).
The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows: YEAR CASES OFMERLOT WINE 2005 321 2006 407 2007 449 2008 507 2009 409 2010 551 2011 461 2012 427 Using an exponential smoothing model with an alpha value of 0.30, estimate the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast for 2008, and then smooth the forecast forward to 2012.
If a 2-year moving average is used to make the forecast, the Mean Absolute Deviation based on this how many miles?
Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 3 8 9 6 7 6 3 7 10 11 Year Year Forecast (000) 1 5 1 5 2 5 4 4 4 5 11 Registrations (000) Use exponential smoothing with a smoothing constant of 0.4 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure, assume that the forecast for year 1 was 5,000 people signing up (round your responses to one decimal place): 2 3 5 6 7 8 10 16 9 11 12 10 D 11 12 a) What is the MAD? Mean absolute deviation based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is thousand registrations (round your response to one decimal place). b) What is the MSE? The mean squared error based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is (round your response to two decimal…
Given the following historical data, what is the simple three-period moving average forecast for period 6? Period Value 1 73 2 68 3 65 4 72 5 67
24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) 1 83 2 78 3 75 4 81 5 86 6 85 7 89 8 90 9 86
The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Jan Feb Mar Apr Number of Accidents 30 48 70 90 Part 2 Using the least-squares regression LOADING... method, the trend equation for forecasting is (round your responses to two decimal places): y = enter your response here + enter your response here x Y=?+?x

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