Question: (b) Shoprite industry wishes to use the moving average method and weighted moving average to forecast sales starting in January. They are not sure how

(b) Shoprite industry wishes to use the moving average method and weighted moving average to forecast sales starting in January. They are not sure how many months to use in the average. Using the sales data from last year shown below: Months Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Sales ('000) 50 80 60 70 90 100 80 120 110 150 130 140 Required: (i) Forecast next year's sales month by month using three months for both simple moving average and weighted moving average. (ii) Calculate the variances for each method and determine which is likely to yield the most accurate result. (b) Shoprite industry wishes to use the moving average method and weighted moving average to forecast sales starting in January. They are not sure how many months to use in the average. Using the sales data from last year shown below: Months Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Sales ('000) 50 80 60 70 90 100 80 120 110 150 130 140 Required: (i) Forecast next year's sales month by month using three months for both simple moving average and weighted moving average. (ii) Calculate the variances for each method and determine which is likely to yield the most accurate result

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