using an excel spreadsheet solve the following problem Problem 11 Your pharmacy

Question

using an excel spreadsheet solve the following problem

Problem 11 Your pharmacy is able to produce up to 30,000 unit doses each month. The trend in unit doses over the years has been as shown below. What amount of unit doses will you budget for in 19X4:? 19X1 312,000 Unit Doses 19X2 327,600 Unit Doses 19X3 343,890 Unit Doses Problem 12 You manage a Therapeutic Radiation Department with five machines. These machines have a maximum total capacity of 600 treatments per month, each val ued at 50 RVUs. What number of RVUs will you budget in 19X8, given the fol lowing RVU trend over time? 19X1 -190,000 19X2 -- 209,000 19X3229,900 19X4 -252,890 19x5278,180 19X6-306,000 19x7336,000

Explanation / Answer

Solution to Problem 11

As per the given data for the last three years, forecast for the year using trend method is

Therefore next year budget should be for full capacity: 12*30,000 = 360,000 as forecast is 359,720

Measure Value Future Period Forecast Error Measures 4 3,59,720 Bias (Mean Error) 0 5 3,75,665 MAD (Mean Absolute Deviation) 153.3333 6 3,91,610 MSE (Mean Squared Error) 26,450 7 4,07,555 Standard Error (denom=n-2=1) 281.6913 8 4,23,500 MAPE (Mean Absolute Percent Error) 0.05% 9 4,39,445 Regression line 10 4,55,390 Demand(y) = 295,940 11 4,71,335 + 15,945 * Time(x) 12 4,87,280 Statistics 13 5,03,225 Correlation coefficient 1 14 5,19,170 Coefficient of determination (r^2) 0.9999 15 5,35,115 16 5,51,060 17 5,67,005

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