Question: Please share the steps I keep getting stuck here on B & C. c) Use a weighted 2-year moving average with weights of 0.40 and

Please share the steps I keep getting stuck here on B & C.

c)

Use a weighted 2-year moving average with weights of 0.40 and 0.60 to forecast next year's mileage. (The weight of 0.60 is for the most recent year.) A weighted moving average may be expressed mathematically as: Weighted moving average = (Weight for period n)(Demand in period n) / Weights

Please share the steps I keep getting stuck here

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: 3 5 Year Mileage 1 3,000 2 4,000 4 3,800 3,450 3,750 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

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!