Question: Solve A & B ... be sure to show all calculations in detail. 4.7 The actual demand for the patients at Omaha Emergency Medical Clinic

Solve A & B ... be sure to show all calculations in detail.

Solve A & B ... be sure to show all calculations

4.7 The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year fol- lows: ACTUAL NO. OF PATIENTS WEEK 1 65 2 62 3 70 4 48 5 63 6 52 Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this fore- cast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.25 one period ago, 0.25 two peri- ods ago, and 0.167 three periods ago. a) What is the value of your forecast? PX b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? Explain why

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