The actual number of patients at Omaha Emergency Medical Clinic for the first six weeks of this year follows:
Week Actual No. of Patients 1 67 2 69 3 76 4 60 5 66 6 75 Clinic Administrator Marc Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago.
a) What is the value of your forecast ?
b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change ?
1) The value of the forecast will remain the same.
2) The value of the forecast will increase
3) The value of the forecast will decrease
c) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7?
