Trinity General Hospital had the following number of patient admissions during the past 8 weeks: 1. Develop
Question:
1. Develop a 3-week weighted average forecast for week 4 through 9 with weights of W1 = 0.5, W2 = 0.3, and W3 = 0.2.
2. Forecast patient admissions for week 9 using simple exponential smoothing with α = 0.2. Assume that the forecast for week 4 (F4) is the naïve forecast.
3. Use the MSE to determine which of the two forecasting methods is more accurate.
Transcribed Image Text:
Week Patient Admissions 120 145 112 130 110 100 140 95
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1 2 3 Week Patient Admissions WMA Expon 2 SE WMA SE Expon 1 120 2 145 ...View the full answer
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Related Book For
Operations Management Managing Global Supply Chains
ISBN: 978-1506302935
1st edition
Authors: Ray R. Venkataraman, Jeffrey K. Pinto
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