Explain each step in the forecasting process for each method

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Reference no: EM131046849

Case Study: Forecasting

Using the Appendix 6-1, for this assignment, you will be providing a forecast of the number of clinic visits for November 2008 using the average change, confidence interval, average percent change, moving averages, and exponential smoothing forecasting methods. Use the Internet to research at least two (2) examples of the forecasting methods being used in health services organizations.

Write a two to three (2-3) page paper in which you:

1. Explain each step in the forecasting process for each method.

2. Provide a brief summary of your researched health services organizations implementing the forecasting methods.

3. Provide a forecast of the number of clinic visits for November 2008 using each method of the forecasting process.

4. Conclude which forecasting method provides the best forecast, and provide a rationale for your conclusion.

Appendix 6-1 Visit Volume for Northern College Health Services


Month

Visits to Health Services

 

 

 

2005

Jan

21

2007

Jan

32

 

Feb

19

 

Feb

34

 

Mar

16

 

Mar

39

 

Apr

20

 

Apr

42

 

May

15

 

May

41

 

Jun

18

 

Jun

21

 

July

16

 

July

24

 

Aug

14

 

Aug

28

 

Sept

18

 

Sept

47

 

Oct

25

 

Oct

45

 

Nov

30

 

Nov

46

 

Dec

16

 

Dec

44

2006

Jan

22

2008

Jan

39

 

Feb

26

 

Feb

41

 

Mar

31

 

Mar

34

 

Apr

39

 

Apr

39

 

May

44

 

May

38

 

Jun

17

 

Jun

19

 

July

22

 

July

28

 

Aug

18

 

Aug

29

 

Sept

27

 

Sept

37

 

Oct

33

 

Oct

39

 

Nov

29

 

 

 

 

Dec

33

 

 

 

Reference no: EM131046849

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