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Question
The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows:
WEEK | ACTUAL NO. OF PATIENTS |
---|---|
1 | 65 |
2 | 62 |
3 | 70 |
4 | 48 |
5 | 63 |
6 | 52 |
Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of on the present period, one period ago, two peri= ods ago, and three periods ago.
If instead the weights were , and 10 , respectively, how would the forecast change? Explain why.
Solution
VerifiedAnswered 1 year ago
Answered 1 year ago
Step 1
1 of 10In this problem, we are asked to determine how the forecast would change if the weights were changed to 25, 15, 15, and 10 respectively.
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