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:YearMileage13,05023,95033,40043,750a) Using a 2-year moving average, the forecast for year 6 = 3750 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 this53,750miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)

2 year moving average is calculate by the sum of last two year and divided with number of moving…

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 Mileage a) Using a 2-year moving average, the forecast for year 6= 3750 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 = 1 3,050 2 3,950 3 3,400 4 3,750 5 3,750 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data)

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 Mileage a) Using a 2-year moving average, the forecast for year 6= 3750 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 = 1 3,050 2 3,950 3 3,400 4 3,750 5 3,750 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.3: Simple Regression Models

Problem 5P: Management of a home appliance store wants to understand the growth pattern of the monthly sales of...

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