Forecasting HCA
User Generated
pybja1234
Writing
Western Kentucky University
Description
Please submit your answers on a Word document in Times New Roman font size 12 double spaced in 2-3 pages
Please answer or address the following questions in your written assignment.
1. In your words describe what forecasting is in a general sense then reiterate your definition in healthcare related terms.
2. Let us use each of your households as a facility type we can use to generate a forecast. Let's say your family decides to help you pay off the mortgage on your home. It is a two bedroom home with one living room and can seat about 6 people at a time.
You and your partner still owe $10,000 in mortgage on your house. You decide that the best way and fairest way for your family to help pay your mortgage is to charge them for entry. You decide a price for each time a person enters your house. What would be your base fee and how long would it take you to pay off the mortgage? Please present this information in a table using years as your unit of measurement over time. There is no right or wrong scenario, be creative with your incentives and treat the home like a business with services you could offer. I want to see a table, and I want to see your pay-off timeline in the table.
ex. personal.
I only have family to come and see me durnig one holiday because I live so far away, If I charged $20 peradult, and $10 per minor, I would have 6 adults ($120) and 3 minors ($60) and it would take me 55.5 years to pay off a $10,000 mortage (again, I want your data in a table).
3. If you were to provide an incentive to get more foot traffic in your house to pay it off quicker what would that incentive be? An example would be baking brownies daily, or buying a new video game if you have children. Would you be able to charge a higher fee? What would your fee be for your incentive and what would be your new forecast for paying off the remainder of the mortgage? Please present your data in a table while using years as your unit of measurement over time.
ex. personal
However, If I installed a pool table ($800 expense) and hosted monthly pool tournaments, I would make roughly $2160 per year off of pool tounramnets and be able to pay off my mortgage in 4.7 years instead of 55.5 years. Ultimately, is would take 5 years to pay the mortgage and cover the expense of a pool table (again, please put your data in a table).


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