Question 4.1 A-C ### Topic: Forecasting Blood Demand at Woodlawn Hospital#### Recent Blood Usage DataThe table below outlines the number of pints of type A blood used at Woodlawn Hospital over the past six weeks:| **Week Of** | **Pints Used** ||-----------------|------------------|| August 31 | 360 || September 7 | 389 || September 14 | 410 || September 21 | 381 || September 28 | 368 || October 5 | 374 |#### Forecasting Methods**a) Three-Week Moving Average:**- To forecast the demand for the week of October 12, calculate the simple average of the pints used over the past three weeks.**b) Three-Week Weighted Moving Average:**- Utilize a three-week moving average with specific weights: 0.1, 0.3, and 0.6, where 0.6 is for the most recent week (October 5). Use this method to predict the pints needed for the week of October 12.**c) Exponential Smoothing:**- Apply exponential smoothing for the forecast. Begin with the forecast for August 31, which was 360 pints. Use a smoothing constant (alpha) of 0.2 to compute the upcoming demand for the week of October 12.These methodologies aim to provide accurate projections so that the hospital can maintain sufficient blood supply and meet patient needs efficiently.

Forecasting is the process of estimating the future demand according to previous or historic…

a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of.I, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) Compute the forecast for the week of October 12 using expo- nential smoothing with a forecast for August 31 of 360 and a = 2, Pc

a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of.I, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) Compute the forecast for the week of October 12 using expo- nential smoothing with a forecast for August 31 of 360 and a = 2, Pc

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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