The carbonate Hospital is considering the purchase of new ambulance. The decisio

Question

The carbonate Hospital is considering the purchase of new ambulance. The decision will rest parity on the anticipate mileage to be driven next year. The miles driven during the past 5 years are as follows: 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 one decimal places). c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.45 and 0.55 (the weights of 0.55 is for the recent period) = miles (round your response to the nearest whole number) The MAD for the using a weighted 2-year moving average with weights of 0.45 and 0.55 = miles. (round your response to one decimal places.) d) Using exponential smoothing with sigma = 0.20 and the forecast for year 1 being 3.050, the forecast for year = miles (round your response to the nearest whole number)

Explanation / Answer

a)3775

b) 116.7

c)3768

MAD = 133.3

d)3445

year mileage 2 year moving deviation weighted deviation w exponential 1 3050 3050 2 3950 3050 3 3400 3500 100 3545 145 3230 4 3850 3675 175 3647.5 202.5 3264 5 3700 3625 75 3647.5 52.5 3381.2 Forcast 3775 3767.5 3444.96 MAD 116.6667 133.333333

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