Question 3: (1 point)   The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on...

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.

(a)

Forecast the mileage for next year using a 2-year moving average.

____________

Round your answer to the nearest whole number; for example,1234 .

(b)

Find the MAD for your forecast in part (a).

____________

Round your answer to the nearest whole number; for example,123 .

(c)

Use a weighted 2-year moving average with weights of .4 and .6 to forecast next year’s mileage. (The weight of .6 is for the most recent year.) ____________

Round your answer to the nearest whole number; for example,1234 .

What is the MAD of this forecast? ____________

Round your answer to the nearest whole number; for example,123 .

(d)

Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,100 miles, and     ____________

Round your answer to the nearest whole number; for example,1234 .