MAT 543 Week 5 Case Study 1: Forecasting
Using the Northern College Health Services visit volume in Appendix 6-1 on page 113 of the textbook, for this assignment, you will be providing a forecast of the number of clinic visits for November 2008 using the average change, confidence interval, average percent change, moving averages, and exponential smoothing forecasting methods. Use the Internet or Strayer Library to research at least two (2) examples of the forecasting methods being used in health services organizations.
Write a two to three (2-3) page paper in which you:
- Explain each step in the forecasting process for each method.
- Provide a brief summary of your researched health services organizations implementing the forecasting methods.
- Provide a forecast of the number of clinic visits for November 2008 using each method of the forecasting process.
- Conclude which forecasting method provides the best forecast, and provide a rationale for your conclusion.
Health forecasting is a novel region of forecasting, and an important apparatus for foreseeing future health occasions or circumstances, for example, requests for health services and social insurance needs. It encourages preventive pharmaceutical and social insurance intercession systems…