Describe the centre of gravity method?

Q: Define the term moving-average?

A: Forecasting is the process of predicting future demand values based on historical data. The…

Q: a) The forecasted demand for the week of October 12 using a 3-week moving average = 373.33 pints…

A: Week ofPrints usedAug-31360Sep-07372Sep-14412Sep-21378Sep-28368Oct-05374

Q: State the various uses of forecasting in points wise answer

A: The pattern is regarded as the predictive method to decide on the company.

Q: Explain linear trend forecast?

A: Forecasting is the technique of accurately estimating future demand for the goal of planning future…

Q: Explain why it's important to keep track of forecasting errors.

A: For a time series or other phenomenon of interest, forecast error is the difference between the…

Q: How is trend analysis conducted?

A: A technique that is used to determine the future on the basis of past trends is termed trend…

Q: Community General Hospital finds itself treating many bicycle accident victims. Data from the last…

A: There are several forecasting techniques. Moving average method is simply and easy to use. It uses…

Q: Discusshow is moving average approach related to exponential smoothing?

A: Forecasting is the act of estimating future values based on historical data, most notably in the…

Q: Explain the Center of Gravity Method?

A: A geographic coordinate system is described as a reference system with the purpose of finding the…

Q: a) Using a 2-year moving average, the forecast for year 6 = number). miles (round your response to…

A: Moving averages are a type of average that is computed by taking the average of a set of…

Q: Explain quantitative forecast methods?

A: The quantitative method of forecasting uses numerical and prior effects to predict the possible…

Q: When should time series forecasting techniques be used?

A: The statistical data and, as a consequence, the projected features are analyzed using statistical…

Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…

A: Forecasting is a process that predict the future demand using available past actual information. The…

Q: Define baseline distribution

A: A baseline distribution is a standard reference point in the field of probability and statistics. It…

Q: 4.5 The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest…

A: Given that: Past 5 years mileage data: Year Mileage 1 3000 2 4000 3 3400 4 3800 5 3700

Q: DEFINE Correlation coefficient

A: A correlation coefficient is statistical tool that denotes the numerical relationship between two…

Q: a) The high temperature for today using a 3-day moving average a = place). degrees (round your…

A: Forecasting is predicting the uncertainties in advance so that corrective actions can be planned.…

Q: Compute correctly the 3day forecast report, show the computation and solutions

A: %occ = Total rooms occupied/total rooms x 100

Q: Describe the The center-of-gravity method?

A: The center of gravity method is a mathematical method to identify the new location for a facility in…

Q: linear regression how do you find slope and intercept

A: Linear regression - Linear regression is a basic and commonly used type of predictive analysis.…