What is the value of the forecast
Question # 00767982
Posted By:
Updated on: 06/26/2020 12:33 PM Due on: 07/08/2020
The actual demand for the patients at Omaha Emergency MedicalClinic for the first six weeks of this year follows:
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| Week | Actual No. of Patients |
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| 1 | 65 |
| 2 | 62 |
| 3 | 70 |
| 4 | 48 |
| 5 | 63 |
| 6 | 52 |
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Clinic administrator Marc Schniederjans wants you to forecastpatient demand at the clinic for week 7 by using this data. Youdecide to use a weighted average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.31 one period ago, 0.19 two periods ago, and0.167 three periods ago.
What is the value of your forecast?-
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