The Classical Consultant Company provides forecasting research for clients such as a group of five doctors associated with a new hospital health maintenance program. The company has been asked to forecast the number of patients requesting blood analysis per week. The past weekly average is 38 and for the trend is 2 per week. This week's demand was 42 blood tests. How many patients Will come next week? (Suppose α = 0.10 and β = 0.30.)
A) less than or equal to 39
B) greater than 39 but less than or equal to 41
C) greater than 41 but less than or equal to 43
D) greater than 43

Question

Quizplus · Accepted Answer

The forecast for next week can be calculated using the formula: F(t+1) = α * D(t) + (1 - α) * (F(t) + T(t)), where F(t) is the forecast for the current week, D(t) is the actual demand for the current week, and T(t) is the trend. Using the given values, the forecast for next week is approximately 42.2, which falls in the range of greater than 41 but less than or equal to 43.

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