The actual demand for the patients at OmahaEmergency Medical Clinic for the firs
ID: 2444554 • Letter: T
Question
The actual demand for the patients at OmahaEmergency Medical Clinic for the first six weeks of this yearfollows:
Clinic administrator Marc Schniederjans wantsyou to forecast patient demand at the clinic for week 7 by usingthis data. You decide to use a weighted average method to find thisforecast. Your method uses four actual demand levels, with weightsof 0.333 on the present period, 0.31 one period ago, 0.19 twoperiods ago, and 0.167 three periods ago.
What is the value of your forecast?
Week 7 forecast = patients
Round your answer to one decimal place, e.g.,12.3.
The actual demand for the patients at OmahaEmergency Medical Clinic for the first six weeks of this yearfollows:
Week Actual No. ofPatients 1 65 2 62 3 70 4 48 5 63 6 52 Clinic administrator Marc Schniederjans wantsyou to forecast patient demand at the clinic for week 7 by usingthis data. You decide to use a weighted average method to find thisforecast. Your method uses four actual demand levels, with weightsof 0.333 on the present period, 0.31 one period ago, 0.19 twoperiods ago, and 0.167 three periods ago.
What is the value of your forecast?
Week 7 forecast = patients
Round your answer to one decimal place, e.g.,12.3.
Explanation / Answer
We want to weight year 6 by .333, year 5 by .31, year 4 by .19, andyear 3 by .167. Year 7 forecast = .333*52 + .31*63 + .19*48 + .167*70 = 57.656 Thus, your answer is 57.7.
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