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How many miles using exponential smoothing

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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       3,000            4,050       3,400    3,850     3,700

Problem 1.? Using a? 2-year moving? average, what is the forecast for year 6?

Problem 2. If a? 2-year moving average is used to make the? forecast, what is the MAD based on this??

Problem 3. The forecast for year 6 using a weighted? 2-year moving average with weights of 0.45 and 0.55 ?(the weight of 0.55 is for the most recent? period) = how many miles?

Problem 4. The MAD for the forecast developed using a weighted? 2-year moving average with weights of 0.45 and 0.55 ?= how many miles?

Problem 5. Using exponential smoothing with alpha ?= 0.50 and the forecast for year 1 being 3 comma 000?, the forecast for year 6? = how many miles?

Reference no: EM132654816

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