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

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`