The actual number of patients at Omaha Emergency Medical Clinic for the first six weeks of this year follows:WeekActual No. of Patients14549356404453Clinic administrator Marc Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving averagemethod to find this forecast. Your method uses four actual demand levels, with weights of 0.500 on the present period, 0.250 one period ago, 0.125 two periods ago, and0.125 three periods ago.a) What is the value of your forecast?The value of the forecast is patients (round your response to two decimal places).b) If instead the weights were 40, 20, 10, and 10, respectively, how would the forecast change?O A. The value of the forecast will increase.O B. The value of the forecast will decrease.C. The value of the forecast will remain the same.c) What if the weights were 0.50, 0.20, 0.20, and 0.10, respectively? Now what is the forecast for week 7?The value of the forecast is patients (round your response to two decimal places).

This problem can be solved using the weighted moving average method of forecasting.

Answered: The actual number of patients at Omaha…

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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