The Carbondale Hospital is considering the purchase of a newambulance. The decision will rest partly on the anticipated mileageto be driven next year. The miles driven during the past 5 yearsare as? follows:
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Year | 1 | 2 | 3 | 4 | 5 |
Mileage | 3,000 | 4,050 | 3,400 | 3,750 | 3,700 |
?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: Youwill have only 3 years of matched? data.)
?c) The forecast for year 6 using a weighted? 2-year movingaverage with weights of 0.45 and 0.55 ?(the weight of 0.55 is forthe most recent? period) =
miles ?(round your response to the nearest whole? number).
The MAD for the forecast developed using a weighted? 2-yearmoving average with weights of 0.45 and 0.55 ?=
miles ?(round your response to one decimal? place).???(Hint: Youwill have only 3 years of matched? data.)
?d) Using exponential smoothing with ? = 0.30 and the forecastfor year 1 being 3,050?, the forecast for year 6? =
miles ?(round your response to the nearest whole? number).
