Explain each step in the forecasting process for each method

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Reference no: EM131963014

Assignment

Case Study: Forecasting

Using the Northern College Health Services visit volume in Appendix 6-1 on page 113 of the textbook, 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 or Strayer Library to research at least two (2) examples of the forecasting methods being used in health services organizations.

Write a four 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.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

• Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Appendix 6-1 Visit Volume for Northern Collage Health Services

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: EM131963014

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