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 MAD based on this = 66.7 miles (round your response to one decimal 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3768 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = matched data.) miles (round your response to one decimal place). (Hint: You will have only 3 years of
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 MAD based on this = 66.7 miles (round your response to one decimal 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3768 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = matched data.) miles (round your response to one decimal place). (Hint: You will have only 3 years of
Practical Management Science
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ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
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Hi, I need help solving for the MAD value. Thank you.
![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
5
3,750
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 MAD based on this = 66.7 miles (round your response to one decimal 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3768 miles (round your response to the nearest
whole number).
1
3,100
2
4,050
3
3,500
4
3,800
The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65= miles (round your response to one decimal place). (Hint: You will have only 3 years of
matched data.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc459190a-9dde-44f6-a2ca-035e2154bd65%2Fa0fd06ae-3bd2-4914-a935-7dd36683cd80%2Fp0hyxg5_processed.png&w=3840&q=75)
Transcribed Image Text: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
5
3,750
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 MAD based on this = 66.7 miles (round your response to one decimal 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 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = 3768 miles (round your response to the nearest
whole number).
1
3,100
2
4,050
3
3,500
4
3,800
The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65= miles (round your response to one decimal place). (Hint: You will have only 3 years of
matched data.)
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