a) Using a 2-year moving average, the forecast for year 6= miles (round your response to the nearest whole number) miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) b) If a 2-year moving average is used to make the forecast, the MAD based on this = 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) miles (round your response to one decimal place) (Hint: You will have only 3 years of matched data) 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= d) Using exponential smoothing with a = 0.40 and the forecast for year 1 being 3,100, the forecast for year 6=
a) Using a 2-year moving average, the forecast for year 6= miles (round your response to the nearest whole number) miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) b) If a 2-year moving average is used to make the forecast, the MAD based on this = 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) miles (round your response to one decimal place) (Hint: You will have only 3 years of matched data) 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= d) Using exponential smoothing with a = 0.40 and the forecast for year 1 being 3,100, the forecast for year 6=
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
Related questions
Question
![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
2
4,050
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
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)
The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55 =
d) Using exponential smoothing with a = 0.40 and the forecast for year 1 being 3,100, the forecast for year 6 =
=
1
3,100
3
3,400
4
3,800
5
3,750
miles (round your response to one decimal place). (Hint You will have only 3 years of matched data.)
miles (round your response to the nearest whole number)
miles (round your response to one decimal place) (Hint You will have only 3 years of matched data.)
miles (round your response to the nearest whole number)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc6c17e53-6ae6-43ea-86b2-cd8c36145bc2%2F735d6b1b-b7ff-4114-8891-1001ca31a1b2%2Fwnf17r6_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
2
4,050
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
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)
The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55 =
d) Using exponential smoothing with a = 0.40 and the forecast for year 1 being 3,100, the forecast for year 6 =
=
1
3,100
3
3,400
4
3,800
5
3,750
miles (round your response to one decimal place). (Hint You will have only 3 years of matched data.)
miles (round your response to the nearest whole number)
miles (round your response to one decimal place) (Hint You will have only 3 years of matched data.)
miles (round your response to the nearest whole number)
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