The Charbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be drive next year. The miles driven during the past 5 years are as follows: Year Mileage (in 100) 2008 30 2009 40 2010 34 2011 38 2012 37

The Charbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be drive next year. The miles driven during the past 5 years are as follows: Year Mileage (in 100) 2008 30 2009 40 2010 34 2011 38 2012 37

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...

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Question

Please use an exponential smoothing method with a=.3 and a 2011 forecast of 35 to forecast the mileage for 2013? Keep two decimal places.

The Charbondale Hospital is considering the purchase of a new ambulance.
The decision will rest partly on the anticipated mileage to be drive next year.
The miles driven during the past 5 years are as follows:
Year
Mileage (in 100)
2008
30
2009
40
2010
34
2011
38
2012
37
Please use an exponential smoothing method with a=0.3 and a 2011 forecast of 35 to forecast the mileage for 2013 ?
Keep 2 decimal places.

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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