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Projecting your data using simple stat files

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A hospital records the number of floral deliveries its patients receive each week. For an eight week period, the records show 26, 19, 15, 28, 25, 26, 17, 23.

a. Forecast deliveries using a three week moving average.

b. Use exponential smoothing with a smoothing constant of .4 to forecast the number of deliveries

c. How would we determine which forecast is best?

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Solution Summary

This solution shows the various methods of projecting data and using statistical toll to decide the best projection method. Please see the attached file entitled "step-by-step solution on Forecasting.docx"

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A hospital records the number of floral deliveries its patients receive each week. For an eight week period, the records show 26, 19, 15, 28, 25, 26, 17, 23.

a. Forecast deliveries using a three week moving average.
Step-by-step instruction:
a. Determine the floral deliveries of the immediate past three (3) weeks:
60 = (26+19+15)
62 = (19+15+28)
68 = (15+28+25)
79 = (28+25+26)
68 = (25+26+17)
b. Determine the delivery forecast:
20.0 = 60/3
20.7 = 62/3
22.7 = 68/3
26.3 = 79/3
22.7 = 68/3

Week Floral deliveries Previous weeks Forecast Floral ...

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