The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as? follows:
Year,1,2,3,4,5
Mileage,"3,100","4,000","3,400","3,800","3,750"
?b) If a? 2-year moving average is used to make the? forecast, the MAD based on this? =_____ miles ?(round your response to one decimal? place). ? (Hint: You will have only 3 years of matched? data.)
c) Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 miles, and a = .5.