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As you can see in the following table, demand for heart transplant surgery at Washington General Hospital has increased steadily in the past few years:
Year
Heart Transplant
1
45
2
50
3
52
4
56
5
58
6
?
The director of medical services predicted 6 years ago that demand in year 1 would be 41 surgeries.
1. Use exponential smoothing, first with a smoothing constant of 0.6 and then with one of 0.9, to develop forecasts for years 2 through 6.
2. Use a 3- year moving average to forecast demand in years 4, 5, and 6.
3. Use the trend- projection method to forecast demand in years 1 through 6.
4. With MAD as the criterion, which of the four forecasting methods is best?
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Forecasts and actual sales of MP3 players at Just Say Music are as follows: Month Forecast Actual Sales March 150 170 April 220 229 May 205 192 June 256 241 July 250 238 August 260 210 September 270 225 October 280 179. Plot the data and provide insi..
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