2. A company records reported below indicate monthly sales data for Z Company. Use the below mentioned techniques to help the administration:

Month	Sales (units)
October	9
November	11
December	11
January	12
February	13
March	13
April	14
May	13
June	13
July	15

Use Nave method and forecast for next month.

Employ 3-month moving average method and forecast for next month.

Conduct 3-month weighted moving average by using weights 0.5, 0.33 and 0.17 on more recent months and forecast for the next month.

Use Exponential smoothing with smoothing parameter 0.3 and forecast value 37 for the first period. Forecast for the next month.

Use RMSE model and decide which technique (simple moving average, weighted moving average or exponential) is better? Briefly explain.

Plot the monthly data, moving averages and exponential smoothing estimates. Briefly explain the pattern.

Notes:

You are advised to use word program for the quizzes assigned.

If not, pages should be clearly written and numbered.