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Can you please help me to resolve the below case? It is urgent and your quick help is much needed. Please help me:
Medanalysis, Inc., provides medical laboratory services to patients of Health Providers, a group of 10 family practice doctors associated with a new health maintenance program. Managers are interested in forecasting the number of blood analysis requests per week. Recent publicity about the damaging effects of cholesterol on the heart has caused a national increase in requests for standard blood tests. The arrivals over the last 16 weeks are given below.
Week Arrivals
1 28
2 27
3 44
4 37
5 35
6 53
7 38
8 57
9 61
10 39
11 55
12 54
13 52
14 60
15 60
16 75
a. Calculate the forecast for the next period using
a. Naive,
b. Moving average (considering 3 period) and
c. Exponential smoothing ( alpha as 0.4).
b. Calculate the next three period forecast using linear regression method.
c. Use forecast accuracy methods (MAD, MSE, MAPE and tracking signal) for the all the methods and suggest the method of forecasting for the above data.
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