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IKOP uses a weighted moving average method to forecast pancake sales. It assigns a weight of 7 to the previous month's demand, 3 to demand
IKOP uses a weighted moving average method to forecast pancake sales. It assigns a weight of 7 to the previous month's demand, 3 to demand two months ago, and 2 to demand three months ago. If sales amounted to 2,900 pancakes in July, 1,400 pancakes in August, and 1,700 pancakes in September, what should be the forecast for October?
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