Give answers and processes.

Question 5 (a) Consider the following time series data. Month 2 3 4 6 Value 24 13 20 12 19 23 15 Develop a three-month moving average forecast for this time series and find the (5 marks) error for each forecast. Then, compute a forecast for month 8. (b) The following table shows the sales of an electrical item of a company for the year 2017 to 2019. Quarter Year II III IV 2017 48 44 26 38 2018 65 32 30 35 2019 73 38 34 46 (i) Construct a table to show the four-quarter moving average, centered moving average and seasonal irregular value for this time series. (9 marks) (ii) Compute the seasonal index for each quarter. (4 marks) (iii) Forecast the production for the subsequent period. (2 marks) (Total 20 marks)