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Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 320 295 February 380
Here are the data for the past 21 months for actual sales of a particular product:
LAST YEAR | THIS YEAR | |
---|---|---|
January | 320 | 295 |
February | 380 | 370 |
March | 420 | 362 |
April | 425 | 465 |
May | 440 | 430 |
June | 475 | 375 |
July | 440 | 375 |
August | 310 | 315 |
September | 375 | 385 |
October | 540 | |
November | 575 | |
December | 555 |
Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Solve the problem using quarters, as opposed to forecasting separate months.
Note: Round your answer to 2 decimal places.
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