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 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 = 1 3,050 2 3,950 3 3,400 4 3,750 5 3,750 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data)
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 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 = 1 3,050 2 3,950 3 3,400 4 3,750 5 3,750 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...
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