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 |
1 |
2 |
3 |
4 |
5 |
Mileage |
3 comma 0003,000 |
3 comma 9503,950 |
3 comma 4503,450 |
3 comma 7503,750 |
3 comma 7503,750 |
a) Using a 2-year moving average, the forecast for year 6 =
3750
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 =
75
miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)
c) The forecast for year 6 using a weighted 2-year moving average with weights of
0.40 and 0.60 (the weight of 0.60is for the most recent period) =
miles (round your response to the nearest whole number).
I want answer c and d and so on
C)Using a two period weighted moving average method the forecast for a period is calculated as the sum of the product of the actual value and their respective weight for the previous two periods.
So forecast for year 6 = (0.40x3750) + (0.60x3750)
= 1500 + 2250
= 3750 miles
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly...
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i need last one
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Can someone help me figure out
part C?
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Need some help, show steps please
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