Question

To help plan its nursing staff schedule, a large hospital uses simple exponential smoothing to forecast the daily number of hospital beds that will be occupied on each of the next few days. Using a smoothing parameter of 0.56 , the forecast for today's number of occupied beds was 385, although at day's end the actual number of occupied beds was reported to be 386. Using this information, calculate a forecast of the daily bed count for each of the next few days. Round your answer to the nearest integer.

Answer 1

Answer:386

Step-by-step explanation:

We have given

Smoothing parameter $\left ( \alpha \right )=0.56$

Forecasted demand$\left ( F_t\right )=385$

Actual demand$\left ( D_t\right )=386$

And Forecast is given by

$F_{t+1}=\alpha D_t+\left ( 1-\alpha \right )F_t$

$F_{t+1}=0.56\cdot 386+\left ( 1-0.56\right )385=385.56\approx 386$

$F_{t+2}=0.56\cdot 386+\left ( 1-0.56\right )385.56=385.806\approx 386$

$F_{t+3}=0.56\cdot 386+\left ( 1-0.56\right )385.806=385.914\approx 386$

$F_{t+4}=0.56\cdot 386+\left ( 1-0.56\right )385.914=385.962\approx 386$