Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Chapter 5, Problem 3E

Metropolitan Hospital has estimated its average monthly bed needs as N = 1 , 000 + 9 X

where X = time period  ( months ) ; January 2 00 2 = 0 N = monthly bed needs

Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years:

Chapter 5, Problem 3E, Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where , example  1

  1. Forecast Metropolitan’s bed demand for January, April, July, November, and December 2007.
  2. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?

Chapter 5, Problem 3E, Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where , example  2

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