UDF is trying to forecast Toilet Paper sales. They have data on the multi-packs from previous years that they want to use to try to figure out what sales will be this year. In 2020 they sold 15,000, in 2019 they sold 8,000, and in 2018 they sold 7,800. They know that the data in 2020 is not truly reflective due to COVID hoarding and they don't have data complied yet on 2021, so they elect to weight the data they do have with t-1 at 20%, t-2 at 30% and t-3 at 50%. Using a weighted average forecasting model, how much would they expect to sell coming up year?

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Okay here are the steps to solve this using a weighted ... View the full answer