The director of a large public library must schedule employees to reshelf books and periodicals checked out of the library. The number of items checked out will determine the labor requirements. The following data reflect the number of items checked out of the library for the past three years: Month January February March April May June July August September October Year 1 1,733 2,676 2,417 2,432 2,421 2,378 2,239 2,445 1,903 1,922 2,399 2,274 Year 2 2,053 2,321 2,359 2,088 2,692 2,122 2,206 1,869 2,506 2,291 2,378 2,189 Year 3 2,132 2,564 2,677 2,150 2,243 2,663 2,039 1,678 1,699 2,065 2,113 2,404 November December The director needs a time-series method for forecasting the number of items to be checked out during the next month. . Suppose that the director considers the best forecast to be the one that minimizes the absolute value of mean bias (Ē). Find the best simple moving average forecast you can using the director's criteria. Using the director's criteria, the best forecast for the next month is items to be checked out. (Enter your response as a whole number.)
The director of a large public library must schedule employees to reshelf books and periodicals checked out of the library. The number of items checked out will determine the labor requirements. The following data reflect the number of items checked out of the library for the past three years: Month January February March April May June July August September October Year 1 1,733 2,676 2,417 2,432 2,421 2,378 2,239 2,445 1,903 1,922 2,399 2,274 Year 2 2,053 2,321 2,359 2,088 2,692 2,122 2,206 1,869 2,506 2,291 2,378 2,189 Year 3 2,132 2,564 2,677 2,150 2,243 2,663 2,039 1,678 1,699 2,065 2,113 2,404 November December The director needs a time-series method for forecasting the number of items to be checked out during the next month. . Suppose that the director considers the best forecast to be the one that minimizes the absolute value of mean bias (Ē). Find the best simple moving average forecast you can using the director's criteria. Using the director's criteria, the best forecast for the next month is items to be checked out. (Enter your response as a whole number.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:The director of a large public library must schedule employees to reshelf books and periodicals checked out of the library. The number of items checked out will determine the labor requirements. The following data reflect the number of items checked out of the library for the
past three years:
Year 1
1,733
2,676
2,417
Month
Year 2
2,053
2,321
2,359
2,088
2,692
2,122
2,206
1,869
2,506
2,291
2,378
2,189
Year 3
2,132
January
February
March
April
May
lune
2,564
2,677
2,150
2,243
2.432
2 421
2,421
2,378
2,239
2,445
June
2,663
July
August
September
October
2,039
1,678
1,699
1,903
1,922
2,399
2,065
2,113
2,404
November
December
2,274
The director needs a time-series method for forecasting the number of items to be checked out during the next month.
Suppose that the director considers the best forecast to be the one that minimizes the absolute value of mean bias (E). Find the best simple moving average forecast you can using the director's criteria.
Using the director's criteria, the best forecast for the next month is
items to be checked out. (Enter your response as a whole number.)
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