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Given the following data. Month Sales (000 units) Feb 44. Mar 40 Apr 43 May 45 Jun 42 Jul 41 Aug 47 Prepare a forecast
Given the following data. Month Sales (000 units) Feb 44. Mar 40 Apr 43 May 45 Jun 42 Jul 41 Aug 47 Prepare a forecast for the month of September using each of the following approaches: (a) The naive approach (2 marks) (b) A four-period moving average (4 marks) (c) A weighted average using weights of 0.40 (most recent), 0.25, 0.20, and 0.15 (4 marks)
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