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p please answer asap (b) Albert intends to use moving average forecasting to observe the trend of his existing consortium sales and to forecast the
p
please answer asap
(b) Albert intends to use moving average forecasting to observe the trend of his existing consortium sales and to forecast the near future sales. He obtained the sales (RM Millions) for the past 7 months, from JAN 2019 to JUL 2019 as stated in the table below. Month JAN FEB MAR APR MAY JUN JUL Sales in (RM Million) 12.32 11.62 12.11 13.32 14.54 10.38 12.65 (i) Use a 3-months moving average of the sales to forecast for the month of APR and find the forecast error. (Please round the forecasted figure to 2 decimal places). (3 marks) (ii) Use a 5-months moving average of the sales to forecast for the month of July and find the forecast error. (Please round the forecasted figure to 2 decimal places). (4 marks) (Total: 20 marks)Step by Step Solution
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