The Carbondale Hospital is considering the purchase of a new ambulance. The deci

Question

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 4 5 3,0004,0 3,400 3,850 a) Using a 2-year moving average, the forecast for year 6 3775 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MA based on this = 108.3 miles round your response to one deci al place Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period)miles (round your response to the nearest whole number).

Explanation / Answer

C) The forecast for year 6 using a weghted 2-year moving average with weights 0.40 and 0.60 are:

= 0.4*3850 + 0.6*3700 (Mileage for year 4th and 5th)

Ans = 1540 + 222= 3760 miles

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.