What is the value of your forecast

Assignment Help Operation Management

Reference no: EM13961101

The actual demand for the patients of Omaha Emergency Clinic for the past 6 weeks follows:

Week Patients

1 65

2 62

3 70

4 48

5 63

6 52

You want to forecast patient demand for week 7 using this data. You decide to use a 4-period weighted moving average to find this forecast. You select weights of .40, .30, .20 and .10 with the most weight going to the most recent period

a) What is the value of your forecast?

b) If instead, the weights were 32, 24, 16 and 8, respectively. How would the forecast change explain why?

Please show your work step by step.

Reference no: EM13961101

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