(b) Compare the three-month moving average forecast with the exponential smoothing forecast using = 0.2. (Round your answers to two decimal places.)

(c) Using the more accurate approach from part (b), what is the forecast (in millions of dollars) for the next month? (Round your answer to the nearest million dollars.)

Month Time Series Value (in $ millions) 3-Month Moving Average Forecast (in $ millions) a = 0.2 Forecast (in $ millions) 1 250 2. 340 250 3 240 268 4 4 260 x 262.40 5 270 X 261.92 6 320 x 263.54 7 230 X 274.83 8 8 310 x 265.86 9 230 x 274.69 10 310 x 265.75 11 250 x 12 230 x