Refer to Solved Problem:
a) Use a 3-year moving average to forecast the sales of Volkswagen Beetles in Nevada through year 6.
b) What is the MAD?
c) What is the MSE?
Problem - The following gives the number of pints of type B blood used at Woodlawn Hospital in the past 6 weeks:
|
Week of
|
Pints Used
|
|
August 31
|
360
|
|
September 7
|
389
|
|
September 14
|
410
|
|
September 21
|
381
|
|
September 28
|
368
|
|
October 5
|
374
|
a) Forecast the demand for the week of October 12 using a 3-week moving average.
b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12.
c) Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and a = .2.