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The following data shows the sales of a product for a period of six months. Period (Month) Actual Sale of product 1 800 2 900
The following data shows the sales of a product for a period of six months. Period (Month) Actual Sale of product 1 800 2 900 3 1100 4 1250 5 1350 6 1410 Answer the following questions: (a) Use 2 months moving average forecasting method to forecast the sales of the product from 3rd month till 6th month. [2] (b) Use exponential smoothing method (using alpha=0.9) to forecast the sales of the product from 3rd month till 6th month. [3] (c) Compare whether there is any difference in the forecasting accuracy of the methods and Comment. [5]
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