Use the data in exercise 9.7 to answer these questions: a. Calculate the naïve estimator, which is Q
Use the facts in exertion 9.7 to answer these questions:
a. Calculate the naïve estimator, which is Qt = Qt− 1.
b. Calculate the two-period moving-average forecast.
c. Calculate the medium irresponsible deviation for the retreat prearrange,
the naïve prearrange, and the two-period moving-mediocre prearrange.
d. Which prearrange seems to discharge the best? Why?
Because of fluctuations in insurance coverage, the mediocre figure paid out of shirk (P) by patients of an urgent care disposition multifarious, as the table pomps. The calculate of visits per month (Q) also varied, and an analyst believes the two are cognate. The analyst also thinks the facts pomp a tend. Run a retreat of Q on P and Period to proof these hypotheses. Then use the estimated parameters a, b, and c and the values of Month and P to forecast Q (calculate of visits). The forecastion equation is Q = a + (b × Month) + (c × P).