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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticpated mileage to be driven next year. The miles driven during the past 5 years are as follows:
Year Mileage
1 3,000
2 4,000
3 3,400
4 3,800
5 3,700
a. Forecast the mileage for next year using a 2-year moving average.
b. Find the MAD based on the 2-year moving average forecast in part (a) (Hint: You will have only 3 years of matched data.)
c. Use a weighted 2-year moving average with weights of .4 and .6 to forecast next year's mileage. (The weight of .6 is for the most recent year.) What MAD results from using the approach to forecasting? (Hint: You will have only 3 years of matched data.)
d. Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 mile 1 of 3,000 miles, and a =5.
Leaders can improve the chances for a successful change outcome by following Kotter's eight-step change theory. Pick three of the eight-step change theory components and give an example for each step that explains how leaders can implement it to e..
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Use an ? of 0.1 and a B (beta) of 0.2 to make a forecast for july and august. Calculate the MAD for your january through june forecasts. 15 demand units for January, 18 for february, 22 for march, 23 for april, 27 for May, 26 for june.
Managers like Janis Blancero face a more complicated decision when evaluating personal requests of employees versus evaluating employees individual work performance. Explain.
A food processor uses approximately 29,470 glass jars a month for its fruit juice product. Because of storage limitations, a lot size of 4,000 jars has been used.
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