To Select: Rate the statement on the scale of 1 to 7 "Significance of opportunity to help others under the job". Introduction: Job involves set of activities that are homogenous in nature and are associated with resemblance of task. It includes the work performed by an individual in order to earn money in return.

Question

Question 3 Data collected on patient days in a hospital over the past 12 months are shown in the following table. Month Patient Days January 543 February 528 March 531 April 542 May 558 June 545 July 543 August 550 September 546 October 540 November 535 December 529 a) Using a weight of .50 for the most recent observation, .30 for the second most recent, and .20 for third most recent, compute a three-month weighted moving average for the time series. Compute the MAD, MSE and MPE for this method.( b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the patient days. Assume that last period's forecast for month 1 is equal to actual to begin the procedure. Which method do you think is best? Is this an improvement over the weighted average- use MAD only c) Use regression analysis to estimate the line of best fit -use the manual method with the formulas shown below.(

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Chapter 12, Problem 12SL

Summary Introduction

To Select:

Rate the statement on the scale of 1 to 7 "Significance of opportunity to help others under the job".

Introduction:

Job involves set of activities that are homogenous in nature and are associated with resemblance of task. It includes the work performed by an individual in order to earn money in return.

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Question 3 Data collected on patient days in a hospital over the past 12 months are shown in the following table. Month Patient Days January 543 February 528 March 531 April 542 May 558 June 545 July 543 August 550 September 546 October 540 November 535 December 529 a) Using a weight of .50 for the most recent observation, .30 for the second most recent, and .20 for third most recent, compute a three-month weighted moving average for the time series. Compute the MAD, MSE and MPE for this method.( b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the patient days. Assume that last period's forecast for month 1 is equal to actual to begin the procedure. Which method do you think is best? Is this an improvement over the weighted average- use MAD only c) Use regression analysis to estimate the line of best fit -use the manual method with the formulas shown below.(

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