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Using the figures in Table 1, forecast the number of surgeries in year 9 using a 3-year moving average and exponential smoothing using an alpha of 0.20and assuming that the forecast for period 8 is 750

Using the figures in Table 1, forecast the number of surgeries in year 9 using a 3-year moving average and exponential smoothing using an alpha of 0.20and assuming that the forecast for period 8 is 750

Elements Of Electromagnetics
Elements Of Electromagnetics
7th Edition
ISBN:9780190698614
Author:Sadiku, Matthew N. O.
Publisher:Sadiku, Matthew N. O.
ChapterMA: Math Assessment
Section: Chapter Questions
Problem 1.1MA
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Using the figures in Table 1, forecast the number of surgeries in year 9 using a 3-year moving average and exponential smoothing using an alpha of 0.20and assuming that the forecast for period 8 is 750

Orange Grove Veterinary Clinic Orange Grove Veterinary Clinic is located in the small suburban town of Orange Grove. It is owned and operated by the award-winning veterinarian Dr. Lewis Collins. This clinic employs 10 other skillful veterinarians full time and 4 full time veterinary technicians. Opening hours are Monday to Friday 8am to 5pm and on Saturday 8am to 12pm. Orange Grove Veterinary Clinic is targeted to provide veterinary services to the residents of Orange Grove and the rapidly growing neighboring communities. This clinic has been in operation for over 10 years now. It provides services such as pet supplies, day care services, vaccination and surgery. Orange Veterinary Clinic has gained the trust of multiple international businesses whereby many partnerships were established throughout the 5 years of operation. Orange Grove Veterinary Clinic has identified three direct competitors that are located within its vicinity. Its aim is to stand out from these competitors and to position itself as the best option for quality veterinary services. Due to the desire for expanding the business and a new building, it is vital for Orange Grove to maximize sales in advance of this move. Consequently, Orange Grove Veterinary Clinic has decided to add a few services to its list of services: grooming, pharmacy and home services. The operations manager is faced with a number of issues and decisions that must be taken in order to make the operation more efficient and effective. One such decision is process and capacity design. In this area, he must decide the amount and type of technology that should be used. Currently, the clinic is using ultrasound and MRI technology to help with its operations. The number of surgeries done at the clinic per year will help to determine the extent to which technology will be utilized. The table below gives the number of surgeries that were done over the last 8 years. Table 1 Year No of Surgeries done 1 260 2 390 3 425 480 5 530 6. 600 7 680 725 The Operations Manager decides to use these figures to predict the number of surgeries that will be done in the next few years.
Transcribed Image Text:Orange Grove Veterinary Clinic Orange Grove Veterinary Clinic is located in the small suburban town of Orange Grove. It is owned and operated by the award-winning veterinarian Dr. Lewis Collins. This clinic employs 10 other skillful veterinarians full time and 4 full time veterinary technicians. Opening hours are Monday to Friday 8am to 5pm and on Saturday 8am to 12pm. Orange Grove Veterinary Clinic is targeted to provide veterinary services to the residents of Orange Grove and the rapidly growing neighboring communities. This clinic has been in operation for over 10 years now. It provides services such as pet supplies, day care services, vaccination and surgery. Orange Veterinary Clinic has gained the trust of multiple international businesses whereby many partnerships were established throughout the 5 years of operation. Orange Grove Veterinary Clinic has identified three direct competitors that are located within its vicinity. Its aim is to stand out from these competitors and to position itself as the best option for quality veterinary services. Due to the desire for expanding the business and a new building, it is vital for Orange Grove to maximize sales in advance of this move. Consequently, Orange Grove Veterinary Clinic has decided to add a few services to its list of services: grooming, pharmacy and home services. The operations manager is faced with a number of issues and decisions that must be taken in order to make the operation more efficient and effective. One such decision is process and capacity design. In this area, he must decide the amount and type of technology that should be used. Currently, the clinic is using ultrasound and MRI technology to help with its operations. The number of surgeries done at the clinic per year will help to determine the extent to which technology will be utilized. The table below gives the number of surgeries that were done over the last 8 years. Table 1 Year No of Surgeries done 1 260 2 390 3 425 480 5 530 6. 600 7 680 725 The Operations Manager decides to use these figures to predict the number of surgeries that will be done in the next few years.
Expert Solution
Step 1

for the given data

Mechanical Engineering homework question answer, step 1, image 1

α = 0.20

forecast for period 8 is 750

 

To determine 

Forecast the number of surgeries in year 9 using 

  • 3-year moving average method 
  • exponential smoothening method
steps

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