forecasting

Project Description:

the number of heart surgeries performed at heartville general hospital has increased steadily over the past years. the hospital's administration is seeking the best method to forecast the demand for such surgeries in 1998 to 2000. the data for the past five years are shown. six years ago, the forecast for 1993 was 41 surgeries, and the estimated trend was an increase of 2 per year.
the hospital’s administration is considering the following forecasting methods,
i. exponential smoothing with α=0.6
ii. exponential smoothing with α=0.9
iii. trend adjusted exponential smoothing with α=0.6 and β=0.1
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Project Stats:

Price Type: Negotiable

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