Which of the four forecasting methods is best

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Reference no: EM131353229

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	1	2	3	4	5	6
HEART TRANPLANTS	45	50	52	56	58	7

The director of medical services predicted 6 years ago that demand in year 1 would be 41 surgeries.

a) Use exponential smoothing, first with a smoothing constant of .6 and then with one of .9, to develop forecasts for years 2 through 6.

b) Use a 3-year moving average to forecast demand in years 4, 5, and 6.

c) Use the trend-projection method to forecast demand in years 1 through 6.

d) With MAD as the criterion, which of the four forecasting methods is best?

Reference no: EM131353229

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