The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeksWeek OfAugust 31September 7September 14September 21September 28October 5a) The forecasted demand for the week of October 12 using a 3-week moving average pints (round your response to two decimal places)b)Using a 3-week weighted moving average, with weights of 0.10 0.25, and 0.65, using 065 for the most recent week, the forecasted demand for the week of October 12use the weights in appropriate order-the largest weight applies to most recent period and smalast weight apples toodet period)Pints Used350372408Week OfAugust 31September 7September 14September 21September 20OctubrOctober 12the forecasted demand for the week of August 31 is 350 and 0.25, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses totwo decimal placesPints Used350372400383300378383300378pirts (round your response to two decimal places and remember toForecast for thisDate350350.0035550

The concept of moving averages is quite simple, for each point in time, you calculate the average of…

The forecasted demand for the week of October 12 using a 3-week moving average pints round your response to two decimal places une the weights in appropriate order-the largest weight applies to most recent perod and smallest weight apples to oldest period) Using a 3-e weighted moving average with weights of 0.10 0.25, and 0.65, using 0.05 for the most recent week, the forecasted demand for the week of October 12-pirts (round your response to two decimal places and remember to week of October 12 (round your responses to the forecasted demand for the week of Auguel 31 is 350 anda 0.25, using exponential smoothing develop the forecast for each of the weeks with the known demand and the forecast f two decimal place Week Of August 31 Pints Used 350 Forecast for thi Date 350

The forecasted demand for the week of October 12 using a 3-week moving average pints round your response to two decimal places une the weights in appropriate order-the largest weight applies to most recent perod and smallest weight apples to oldest period) Using a 3-e weighted moving average with weights of 0.10 0.25, and 0.65, using 0.05 for the most recent week, the forecasted demand for the week of October 12-pirts (round your response to two decimal places and remember to week of October 12 (round your responses to the forecasted demand for the week of Auguel 31 is 350 anda 0.25, using exponential smoothing develop the forecast for each of the weeks with the known demand and the forecast f two decimal place Week Of August 31 Pints Used 350 Forecast for thi Date 350

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks
Week Of
August 31
September 7
September 14
September 21
September 28
October 5
a) The forecasted demand for the week of October 12 using a 3-week moving average pints (round your response to two decimal places)
b)Using a 3-week weighted moving average, with weights of 0.10 0.25, and 0.65, using 065 for the most recent week, the forecasted demand for the week of October 12
use the weights in appropriate order-the largest weight applies to most recent period and smalast weight apples toodet period)
Pints Used
350
372
408
Week Of
August 31
September 7
September 14
September 21
September 20
Octubr
October 12
the forecasted demand for the week of August 31 is 350 and 0.25, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to
two decimal places
Pints Used
350
372
400
383
300
378
383
300
378
pirts (round your response to two decimal places and remember to
Forecast for this
Date
350
350.00
35550

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Step 1: Introduce the concept of moving averages.

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Step 2: a) Determine the forecasted demand for the week of October 12 using a 3-week moving average.

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Step 3: b) Determine the forecasted demand for the week of October 12 using a 3-week weighted moving average

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Step 4: c) Develop the forecast for each of the weeks.

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