Explain what is the forecast error, Operation Management

Assignment Help:

The numbers of patient arrivals to the ER department at a local hospital for the past 5 weeks are: week: 1 , 2 , 3 , 4 , 5 arrivals: 405 ,420 , 400 , 380 , 411 a) Compute a three-week moving average forecast for the arrival of medical clinic patients in week 6. b) What is the forecast for week 7 given the available information? c) If the actual number of patient arrivals in week 6 is 415, what is the forecast error for week 4? d) What is the updated forecast for week 7 given the info in part c)? e) Calculate the forecast for week 7 using the exponential smoothing method with a smoothing factor? = 0.2. f) Which of the two forecasting methods is providing more accurate forecasts? Compare their performance to recommend one to the hospital for continued use.


Related Discussions:- Explain what is the forecast error

Product layout, define the following key terms in product layout; product i...

define the following key terms in product layout; product interval time, product duration, asssembly line balancing.

Explain the concept of supply chain management, Question 1: What are th...

Question 1: What are the various decisions Operations Managers are called upon to make in the manufacturing and service Industries for the various operational areas under his r

Operation function, meaning of operation function in operation management

meaning of operation function in operation management

Explain what changes should be made in the wage, A father decides to put hi...

A father decides to put his two sons to work landscaping. The business involved going to a customer's home and providing landscaping services (cut gras, edge sidewalk, pull weeds i

Design a web page for the business function, 1. Design a Web page for the b...

1. Design a Web page for the business function (e.g., ordering, human resources, courier service, inventory listing, etc.). The Web page will have at least the following HTML: a

Explain what goes wrong in organizations, During the past five weeks, you h...

During the past five weeks, you have written several papers examining various organizational behaviour problems that materialize in organizations. Review all of those papers and ot

Industrial policy, Industrial Policy The course of action set by the go...

Industrial Policy The course of action set by the government to influence the development of domestic industrial sectors in particular and the direction of the national organiz

Describe customer-contact matrix perspective, Describe a company of your ch...

Describe a company of your choice from the customer-contact matrix perspective. Discuss the operations of the organization from your perspective using the three elements of the cus

Explain middle manager helping to implement a new corporate, You are a midd...

You are a middle manager helping to implement a new corporate cost-cutting strategy, and your meeting scepticism, resistance, and in some cases, outright hostility from your subord

Operations management and globlization, Briefly explain operation managemen...

Briefly explain operation management and globalization

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd