Question: Can someone show me how to do this problem? steps with explanations please Will rate a thumb up for good response thanks so much! (circle

Can someone show me how to do this problem? steps with explanations please

Will rate a thumb up for good response thanks so much! (circle or highlight answers thx)

Can someone show me how to do this problem? steps

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: Year 1 2 3 4 5 Mileage 3,050 4,050 3,450 3,750 3,800 a) Using a 2-year moving average, the forecast for year 6 = 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.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) = miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.40 and 0.60 = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) d) Using exponential smoothing with a = 0.30 and the forecast for year 1 being 3,050, the forecast for year 6 = miles (round your response to the nearest whole number)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!