Question: The data for a given hospital visit in weeks is shown by the table below, answer the following questions: 1 2 3 4 5 6
The data for a given hospital visit in weeks is shown by the table below, answer the following questions:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| 70 | 73 | 65 | 62 | 80 | 74 | 69 | 78 |
What is the forecast for week 9 using a 3-week weighted moving average with weights 0.5, 0.3 and 0.2 (NB: the largest weight is assigned to figure 78, i.e. forecast for week 8)?
| approximately 75 patients | ||
| 74 patients | ||
| approximately 73 patients | ||
| approximately 72 patients |
What is the forecast for week 9 using an exponential smoothing forecast with an alpha equal to 0.3? (Assume a first-period forecast equal to the actual value for Period 1.)?
| approximately 95 patients | ||
| 94 patients | ||
| approximately 98 patients | ||
| none of the above |
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
