The following gives the number of pints of type A blood used at Woodlawn Hospita

Question

The following gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks.

Week of:                        Pints Used:
____________________|_________________
May 2                         360
May 9                        389
May 16                      410
May 23                      381
may 30                      368
June 6                           374

a.   Forecast the demand for the week of June 13 using a 3-week moving average.
b.   Forecast the demand for the week of June 13 using a 3-week moving average. with weights of .1, .3, and .6 using .6 for the most recent week.  
c.   Use the exponential smoothing method to forecast demand for the week of June 13, with a forecast for May 2 of 360 units and =0.20.

d. Which forecast method gives more accurate results (HINT: use a forecast error model)? How do you know?

Explanation / Answer

a.3 week moving average is 381+368+374/3=374.333 b.3 week moving average 381(.1)+368(.3)+374(.6)=38.1+110.4+224.4=372.9

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