question c Summer 2017 QM352 740 Homework: Ch 04 HW 1 Score: 0 of 25 pts x Probl

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question c

Summer 2017 QM352 740 Homework: Ch 04 HW 1 Score: 0 of 25 pts x Problem 4.5 The carbondale Hospital is considenng the purchase of a new ambulance. The decision will rest party on the anticipated maeage to be dnven next year Th Maeage 3002. a) using a 2-year moving average. the forecast for year sa00 miles (round your response to the nearest whole numcen b) If a 2-year moving average is used to make the forecast the MAD based on this miles fround your response to one decima piaceh Hrt You wow 100 c) The forecast for year 6 using a weighted 2-year moving average with weights of o 35 and 0.65 the weight ofo for the most recent period 3000 m The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and o 65 miles fround your response one decima

Explanation / Answer

To calculate the MAD we will have to compute the weighted moving average of rest of the years too.

The MAD will be the average of values in the last column.

MAD = (232.5+140+122.5)/3 = 165.0

year Mileage Weighted Moving Average Difference Between actual and WMA values 1 3000 2 4050 3 3450 3682.5 232.5 4 3800 3660 140 5 3800 3677.5 122.5 6 3800

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