MAT/543 MAT543 MAT 543 WEEK 7 EXAM 2

What is analytic forecasting useful for predicting?

A manager who is effective with forecasting will be able to do what?

Most forecasting problems faced by the health services manager can be accomplished using some form of forecasting known as what?

What is the number one rule of forecasting?

What is another term for forecast?

The quantitative rationale for choosing between forecasting methods is known as what?

If forecasting using 33 months of historical data, how many months should you forecast if using exponential smoothing, SC=.3?

Using a smoothing constant of 0.3, 0.35, or 0.4 will produce what types of forecasts?

What is true of exponential smoothing?

Average percent change as a forecasting method relies on what primary assumption?

What is another name for regression analysis?

What is the purpose of regression analysis?

What does a slope of zero mean?

What does the y-intercept of a regression equation represent?

What do regression lines look like?

System capacity is created from what?

The price per test is $85, and the variable cost per test is $15.  What is the contribution margin per test?

The price per test is $85, and the variable cost per test is $15.  Using this information, what is the breakeven point in volume if the allocated fixed costs were $210,000?

What is true of system capacity?

Service systems used to provide medical care are complex and involve multiple steps. The capacity of any service system is determined by the capacity of each individual step in the production process.  The step that has the lowest capacity determines what?

When queuing theory models are used in the development of appointment system, giving appointments every 15 minutes is the same as an arrival rate of how many per hour?

Queuing theory calculations describe service times according to which probability distribution?

In the language of queuing theory, what occurs when a unit waiting in line for service decides that the wait is too long and leaves the line?

In a single channel single server system, if the service rate is 4 per hour and the arrival rate is 6 per hours, what is the average time a unit spends waiting in the system (Wq)?

In a single channel single server system, if the service rate is 6 per hour and the arrival rate is 4 per hour, what is the probability that a unit must wait (Pw)?