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 milles driven during the past 5 years areKas followsYearMileage3,000234,000 3,40043,80053,700a) 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 miles (round your response to a whole number). (Hint: You will have only 3 years of matched data)

A moving average is a statistical calculation used to analyze data over a specific period of time by…

The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest party on the anticipated mileage to be driven next year. The miles driven during the past 5 years are K 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 3,000 2 4,000 3 3,400 4 3,800 5 3,700 miles (round your response to a whole number). (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 party on the anticipated mileage to be driven next year. The miles driven during the past 5 years are K 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 3,000 2 4,000 3 3,400 4 3,800 5 3,700 miles (round your response to a whole number). (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

Section13.6: Moving Averages Models

Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...

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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 miles (round your response to the nearest whole number). a) Using a 2-year moving average, the forecast for year 6 = 1 3,050 2 4,000 3 3,450 4 3,750 5 3,750
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 = 116.7 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = miles (round your response to the nearest whole number). 1 3,050 2 3,950 3 3,400 4 3,750 5 3,750 4
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 5 3,750 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 = 116.7 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3750 miles (round your response to the nearest whole number). 1 3,050 2 3,950 The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = data.) 3 3,400 3,750 miles (round your response to one decimal place) (Hint You will have only 3 years of matched
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 = miles (round your response to the nearest whole number). 1 3,100 2 4,000 3 3,450 4 3,850 A 5 3,750
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 1 2 3 4 5 Mileage 3,100 4,000 3,500 3,800 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 onedecimal place). (Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.45 and 0.55 (the weight of 0.55 is for the most recent period) =________miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55=_____…
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 1 3,100 2 4,000 3 3,450 4 3,850 A 5 3,750 a) Using a 2-year moving average, the forecast for year 6 = 3800 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)