a) Given the following historical data, which do you think would be better to use? (Round answers to 2 decimal place, e.g. 15.25)

Week		Demand (lab requirements)
1		320
2		348
3		339
4		366
5		370
6		347

Forecasts using = 0.1, MAD
Forecasts using = 0.7, MAD

Using select a value =0.1=0.7 provides a better historical fit based on the MAD criterion.

b) The manager of the health clinic would also like to use exponential smoothing to forecast demand for emergency services in the facility. However, she is not sure whether to use a high or low value of . To make her decision, she would like to compare the forecast accuracy of a high and low on historical data. She has decided to use an = 0.6 for the high value and = 0.2 for the low value.

For both alpha values, enter exponential smoothing forecasts for weeks 2-6, and calculate the MAD for each alpha value. (Round answers to 2 decimal place, e.g. 15.25.)

Initatilize the computations using the nave method

Week		Demand (in patients serviced)
1		419
2		311
3		367
4		441
5		482
6		398

				Exponential Smoothing Forecasts
Week		Demand		= 0.2		= 0.6
1		419
2		311
3		367
4		441
5		482
6		398
		MAD

(a) which value of do you think would be better to use? It would be better to use = ? select a value 0.6 or 0.2 (b) Is your answer the same as in part above? The answer is select an option: same The manager of the health clinic would also like to use exponential smoothing to forecast demand for emergency services in the facility. However, she is not sure whether to use a high or low value of . To make her decision, she would like to compare the forecast accuracy of a high and low on historical data. She has decided to use an = 0.6 for the high value and = 0.2 for the low value.

For both alpha values, enter exponential smoothing forecasts for weeks 2-6, and calculate the MAD for each alpha value. (Round answers to 2 decimal place, e.g. 15.25.)

Initatilize the computations using the nave method

Week		Demand (in patients serviced)
1		419
2		311
3		367
4		441
5		482
6		398

				Exponential Smoothing Forecasts
Week		Demand		= 0.2		= 0.6
1		419
2		311
3		367
4		441
5		482
6		398
		MAD

(a) which value of do you think would be better to use? It would be better to use = select a value 0.6 or 0.2 (b) Is your answer the same as in part above? The answer is select an option same or different. ?