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a) What is the value of your forecast? b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7? 083-849 c) Calculate the MAPE for both cases 202218

a) What is the value of your forecast? b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7? 083-849 c) Calculate the MAPE for both cases 202218

Practical Management Science
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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The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows: WEEK/0914 ACTUAL NO. OF PATIENTS 65 23/09/24202718b1083-84968 1 2 3 4 S 6 48 63 52 202218bt083-84968-2023/09/24-2022186108 1968-2023/09/24-20221861083-84968-202 09/ Clinic administrator wants you to forecast patient demand the clinic for week 7 by using this data. You decide to use a weighted movir average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 in the present period, 0.25 one peric ago, 0.25 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? 218b1083-84968-2 b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7? c) Calculate the MAPE for both cases 083-84968-20 wit week-202218b1000 210 forec 84968-20 93-84
Transcribed Image Text:The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows: WEEK/0914 ACTUAL NO. OF PATIENTS 65 23/09/24202718b1083-84968 1 2 3 4 S 6 48 63 52 202218bt083-84968-2023/09/24-2022186108 1968-2023/09/24-20221861083-84968-202 09/ Clinic administrator wants you to forecast patient demand the clinic for week 7 by using this data. You decide to use a weighted movir average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 in the present period, 0.25 one peric ago, 0.25 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? 218b1083-84968-2 b) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7? c) Calculate the MAPE for both cases 083-84968-20 wit week-202218b1000 210 forec 84968-20 93-84
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