kell2011bell posted a question Sep 03, 2012 at 4:58pm
4.5 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
1 3,000
2 4,000
3 3,400
4 3,800
5 3,700
b) Find the MAD based on the 2-year moving average forecast in
part (a). (Hint: You will have only 3 years of matched data.)

c) Use a weighted 2-year moving average with weights of .4 and .6
to forecast next year’s mileage. (The weight of .6 is for the most
recent year.) What MAD results from using this approach to
forecasting? (Hint: You will have only 3 years of matched data.)

d) Compute the forecast for year 6 using exponential smoothing, an
initial forecast for year 1 of 3,000 miles, and α = .5

Excel Tab Problem 4.5 - I have started this problem but I do not understand question B C & D, I think I have part A correct.
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    4.1 The following gives the number of pints of type A
    blood used at Woodlawn Hospital in the past 6 weeks:

    a) Forecast the demand for the week of October 12 using a 3-week
    moving average.
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Expert answered the question Sep 03, 2012 at 10:47pm
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