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ID: 3208154 • Letter: R
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r cli crease 0,000 era. sit. pay a S30 stic ty of d of th ere eviden power the fu nction ysis gre o test for at equals if th able called Q2 and other e for the fourth he default, which on, do not eate a variable o60 679 975 o62 531 urology visits x 2). Here waiting time in your apita income Ch apte Forecast 153 any visits do you anticipate Medicare's allowed your $120. Wh visits and do you anticipate? revenue revenue of at forecast is of fluctuations in insurance coverage, the average price paid of pocket (P) patients of an urgent care center varied, as the The number of visits per month (Q) also varied t believes the two are related, analyst also thinks the Run a regression of Q on P and Period to test these hypotheses. Then use the estimated parameters a, b, and c data Month and to predict Q number of visits). The nd the uation is (b x Month) on cq 12 $15 $24 $18 $21 $18 $15 $20 $19 $24 $20 214 247 273 223 225 198 231 211 179 256 197 in Exercise 9.7 to answer these questions Use the data cstimator, which is Qu- Q Calculate the naive forecast two-period moving average b. Calculate the the regression forecast c. Calculate the mean absolute deviation for average forecast. and the two-period moving the seems to perform the best? Why? d, which forecast the table les data are displayed in Sales Month Sales Rebruary 224 January 200 April 211 March 280 May 239 April 271 Dune 224 May 302 243 June 286 243 August 301 September September 309 LOctober October November 259 270 DecemberExplanation / Answer
a. Naive estimator:
(b)
(c)
d)Out of the above three methods two period moving average seems to be best performing since it has low mean absolute deviation
Month Sales Naïve estimator feb 1 224 Mar 2 217 224 Apr 3 211 217 May 4 239 211 Jun 5 234 239 Jul 6 243 234 Aug 7 238 243 Sep 8 243 238 Oct 9 251 243 Nov 10 259 251 Dec 11 270 259 Jan 12 260 270 Feb 13 284 260 Mar 14 280 284 Apr 15 271 280 May 16 302 271 Jun 17 286 302 Jul 18 297 286 Aug 19 301 297 Sep 20 309 301 Oct 21 314 309Related Questions
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