After plotting demand for four periods, an emergency room manager has concluded that a trend-adjusted exponential smoothing model is appropriate to predict future demand. The initial estimate of trend is based on the net change of 30 for the three periods from 1 to 4, for an average of +10 units. Use a = .5 and 3 = .4, and TAF of 250 for period 5. Obtain forecasts for periods 6 through 10. Period 1 2 3 4 5 Actual 210 224 229 240 255 Period 6 7 8 9 10 Actual 265 272 285 294
After plotting demand for four periods, an emergency room manager has concluded that a trend-adjusted exponential smoothing model is appropriate to predict future demand. The initial estimate of trend is based on the net change of 30 for the three periods from 1 to 4, for an average of +10 units. Use a = .5 and 3 = .4, and TAF of 250 for period 5. Obtain forecasts for periods 6 through 10. Period 1 2 3 4 5 Actual 210 224 229 240 255 Period 6 7 8 9 10 Actual 265 272 285 294
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
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After plotting demand for four periods, an emergency room manager has concluded that a trend-adjusted exponential smoothing model is appropriate to predict future demand. The initial estimate of trend is based on the net change of 30 for the three periods from 1 to 4, for an average of +10 units. Use α = .5 and β = .4, and TAF of 250 for period 5. Obtain
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Expert Solution
Step 1: Given information:
Period | Actual |
1 | 210 |
2 | 224 |
3 | 229 |
4 | 240 |
5 | 255 |
6 | 265 |
7 | 272 |
8 | 285 |
9 | 294 |
10 |
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I came up with a different answer. I cannot see where we have differences except I don't understand why you have T1's which are different.
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