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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest party on the anticipated mileage to be driven next year. The miles driven during the past 5 years ar as follows: Year Mileage 2 4,050 4 3,750 3,500 5 3,750 3,100 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 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 party on the anticipated mileage to be driven next year. The miles driven during the past 5 years ar as follows: Year Mileage 2 4,050 4 3,750 3,500 5 3,750 3,100 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 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...
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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest party on the anticipated mileage to be driven next year. The miles driven during the past 5 years arm as follows: Year Mileage 1 3.100 2 4,050 3 3,500 4 3,750 5 3,750 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 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 party on the anticipated mileage to be driven next year. The miles driven during the past 5 years arm as follows: Year Mileage 1 3.100 2 4,050 3 3,500 4 3,750 5 3,750 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 one decimal place) (Hint: You will have only 3 years of matched data)
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