Question: C. The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of .60 is for the
C. The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of .60 is for the most recent period) = ____ ??? miles
D. The MAD for the forecast developed using a weighted 2-year moving average with weights o 0.40 and 0.60 = ____??? miles (round your response to one decimal?
E. Using exponential smoothing with a = .20, and the forecast for year 1 being 3,100, the forecast for year 6 = ____??? (round to nearest whole number)
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: 4 Year Mileage 1 3,100 2 4,050 3 3,500 5 3,750 3,800 a) Using a 2-year moving average, the forecast for year 6 = 3775 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)Step by Step Solution
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