Assignment:
The actual demand for the patients at Omaha Emergency Medical Clinic for the first six weeks are as follows:
| WEEK |
Actual number of patients |
| 1 |
65 |
| 2 |
62 |
| 3 |
70 |
| 4 |
48 |
| 5 |
63 |
| 6 |
52 |
Clinic administrator Mark 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 0.333 on the present period, 0.25 one period ago, 0.25 two periods ago, and 0.167 three periods ago.
a. Find forecasts using three period moving average method and compute the MAD value.
b. Find forecasts using two period weighted moving average with weights of 20 for the most recent period and 10 the period before that. Compute the MAD value.
c. Find forecasts using Exponential smoothing method with a = 0.6. Use 60 as the initial forecast. Compute the MAD value.
d. Find forecasts using Trend projection and compute the MAD value.
e. Prepare a summary table of the MAD values of each of the forecasting methods.
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.