The MAD for the forecast developed using a weighted 2-year moving average with weights of0.350.35and0.650.65 is what? 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:QYearMileage13,05024,05033,45043,80053,750

YearMileage1310024050335004380053750Weight 1 = 0.65Weight 2 = 0.35

Answered: The MAD for the forecast developed…

The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.350.35 and 0.650.65 is what?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: Suppose that a company makes light bulbs with a mean life of 310 hours, and a standard deviation of…

A: Given, Mean μ = 310 Standard deviation σ = 47 Let x be hours a light bulb last

Q: You may need to use the appropriate technology to answer this question. Investors commonly use the…

A: Let FUND B is sample 1. S1 = 18.9 S2 = 15.0 n1 = n2 = 60

Q: A poll of 1,750 people suggested that 56% of respondents regularly watch tv shows through streaming.…

A: Given,n=1750p=0.56q=1-0.56=0.44

Q: a values that would allow 55% of the data to fall within the mean observing symmetry? Draw the curve…

A: Mean and standard deviation are given below: μ = 8.70σ=2.1846 Z-score is a measure that indicates…

Q: Rate of Return 0.26 0.26 0.03 0.06 0.06 0.04 -0.04 0.22 0.02 0.46 0.06 0.14 0.19 0.05 -0.05 -0.02…

A: Given data: Rate of Return: 0.26, 0.46, -0.05, 0.06, 0.01, 0.26, 0.06, -0.02, -0.01, 0.11, 0.03,…

Q: The bar graph below shows trends in several economic indicators over the period 2003-2008. Over the…

A: Answer:- Given bar graph is,

Q: Calculate (x-bar) for the data shown, to two decimal places X 19.4 26.9 4.1 21.2 12.3 21.3 29.5 20.5…

A: Step 1: Identify the formula to be used to find the mean (x̄)mean (x̄) = ∑x/nwhere:x = values n =…

Q: If IQR is 0.18, find Usual Min and Usual Max? Need help? Click this video! Usual Min = 0.48 - 1.5*…

A: Interquartile Range: The spread between the third and the first quartile is characterized by the…

Q: Construct a 95 % prediction interval for the height of a particular son whose father is 67…

Q: While doing an experiment, a physics student recorded the following sequence of elapsed times (in…

Q: Reported magazine newsstand sales were used to predict audited sales for 10 magazines. For that…

Q: Assume the average number of fatal crashes caused by sleep-deprived drivers each year is 2,000.…

A: It is a problem of normal distribution in which we have to find out the number of fatal cases in a…

Q: Data from 2007 measured the Incarceration Rate (i.e. number of people in prison per 100,000) for…

A: Given : R^2 = 41.4%

Q: None

A: To find the closest point zzz such that 36.98% of the observations fall above it, we assume the…

Q: Calculate F statistic for the following. If SSB = 15.62 (dfb =4) and SSW = 6.39 (dfw = 16)

A: SSB = 15.62 (dfb =4) and SSW = 6.39 (dfw = 16)

Q: 4.0 A.30

A: Suppose y=4.2 & z=7.3 as only two sides of the triangle are known without any value of angle…

Q: (b) The closest point z with 38.31 percent of the observations falling above it. Z= 0.28 T

A: Let Z be the standard normal variable with mean 0 and standard deviation 1.

Q: What percentage of days in June 2022 had rainfall exceeding 34 mm? The below questions are not…

A: The frequency distribution is,Rainfall(mm)Days10-16316-22522-281028-34634-40440-462

Q: The following are th P/E ratios (price of stock divided by projected earnings per share) for 20…

A: we need to arrange the data in ascending order:14, 15, 15, 17, 18, 19, 19, 21, 21, 22, 22, 23, 23,…

Q: ) 5.2°F per month

Q: What is the single property of nominal measurement?

Q: The average temperature of Hamilton in January 2020 was less than 32°F (0°C). Weather in Hamilton…

A: A. Let us consider the central tendency measures as mean, median and mode: Let us denote X as the…

Q: (a) Find a point estimate for the proportion of cell phone owners aged 18-24 who have an Androld…

A: It is given that Sample size n = 245 Number of cell phone owners with Android phone, X = 106

Q: able: Physicians per 10,000 Population and Life Expectancy) The table contains a subset of data…

A: The following information has been given: Physicians/10,000 people (x) Life expectancy (y)…

Q: For each problem, write which test you used in your calculator, draw the graph, calculate pvalue,…

A: Given information Hypothesized mean = 265 n = 41 Sample mean = 250 Standard Deviation = 55 Null…

Q: Given the following forecast errors, calculate the MSE: 15.53 81.22 4.09 5.00 11.34 (Keep one…

A: It is given that the forecast errors are 15.53, 81.22, 4.09, 5.00, 11.34.

Q: 1. Find the absolute and percent relative uncertainty. a. 6.2 (±0.2)-4.1 (0.1) = ? b. 9.43 (+0.05) x…

Q: What is the drawback of the nominal measurement?

Q: The kelvin is a unit of measurement for temperature; 0 K is absolute zero, the temperature at which…

A: To convert the daily temperature from Fahrenheit to Kelvin, you'll use the formula:…

Q: The Consumer Price Index is reported monthly by the U.S. Bureau of Labor Statistics. It reports the…

A: Consider the problem.The objective is to find the geometric mean annual increase in the CPI from…

Concept explainers

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.

Question

The MAD for the forecast developed using a weighted 2-year moving average with weights of

0.350.35

and

0.650.65 is what?

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:
Q
Year
Mileage
1
3,050
2
4,050
3
3,450
4
3,800
5
3,750

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Given data

VIEW

Step 2: Determine forecast

VIEW

Step 3: MAD calculation

VIEW

Solution

VIEW

Step by step

Solved in 4 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Forecasting$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.

Similar questions

Google's stock (GOOG) was tracked for 10 days, showing closing prices of 1,106.65; 1,104.37; 1,128.64; 1,120.53; 1,109.53; 1,110.76; 1,137; 1,068.2; 1,113.1; 1,136.3. Calculate the range of the dataset.
What is the distinctive feature of nominal measurement?
Use Microsoft Excel or other software to create a scatter plot of the relationship between elevation and air density shown in the table below. Add a trend line fit of your choice to the plot and create an empirical model that predicts the density for a value of the elevation. Justify your choice of model fit to the data (i.e., explain what you did and why). Elevation (km) Density (kg/m3) 0 1.225 1 1.112 2 1.007 3 0.9093 4 0.8194 5 0.7364 6 0.6601 8 0.5258 10 0.4135 15 0.1948 20 0.08891 25 0.04008
Suppose that the length of long distance phone calls, measured in minutes, is known to have an exponential distribution with the average length of a call equal to $24 minutes. The 16th percentile is a phone call that lasts minutes.
The production of hybrid cars increased from $3.94 million in 2003 to $6.93 million in 2013. Calculate the average annual percent growth in the production of hybrid cars (use the geometric mean concept). Express your answer as a percentage rounded to two (2) decimal places.
fitting a straight line to a set of data yields the following prediction line. Predict the mean value of Y for x=4
A section of highway is posted with a 55 mph speed limit. In fact, speeds of cars traveling on this section are normally distributed with mean 58 mph and standard deviation 5 mph. If the state patrol decides to ticket cars in the fastest 10 %, at what speed will they start ticketing ? Round your answer to the first decimal position.
Please view the following video before answering this question. Video Solution: 11.03-PR019 A proposed project has the following cash flow estimates: Part a End of Year Mean Net Cash Flow Standard Deviation of Cash Flow ON MV5 Mean: $ 3 Standard Deviation: $ 4 $-35,000 $3.800 $8,100 $12.400 $12.400 Click here to access the TVM Factor Table Calculator $12,400 Assuming independent cash flows, a normally distributed net present value, and a minimum attractive rate of return of 18%. determine an analytical solution for the following: The mean and standard deviation of net present value. $750 $1.800 $2,900 $4.900 $6,100 $7.000
Arsenic is toxic to humans and people can be exposed to it through contaminated drinking water, food, dust, and soil. Scientists have devised a non-invasive way to measure a person's level of arsenic poisoning: by examining toenail clippings. In a recent study, scientists measure the level of arsenic (in mg/kg) in toenail clippings of 8 people who lived near a former arsenic mine in Great Britain. The following levels are recorded. 0.8, 1.9, 2.7, 3.4, 3.9, 7.1, 11.9, 26.0 Below are the summary statistics of the data. min Q1 median Q3 max sd n mean 0.8 2.5 3.65 8.3 26 7.2125 8.368041 8 Suppose the 8 people examined were randomly sampled from residents near the former arsenic mine. Is it legitimate to construct a 95% confidence interval for the mean level of arsenic (in mg/kg) in toenail clippings for residents near the former arsenic mine using a t-distribution? Explain briefly.
Suppose you are told your BMI is 32, the 70th percentile for your age and sex. Please interpret this percentile age: 28 Female
A regular-size girls' basketball was bounced from a certain height. The following data was collected and rounded to the nearest hundredth. Time (t) Height (ft) 0.01 1.88 0.11 3.05 0.21 4.13 0.31 4.91 0.41 5.37 0.51 5.50 0.61 5.31 0.71 4.82 0.81 4.00 0.91 2.97 (a) Use regression to find a quadratic model for the data. (Round the regression parameters to two decimal places.) H = Use the regression model to answer parts (b).(b) When will the ball first be 3.28 feet off the ground? (Round your answer to 3 decimal places.) seconds
Calculate the t-value for a mean for the following u – u0 = 15.00n = 25sx = 10.00