Ch. 3: Forecasting Given the following demand data: Time Period Demand 7 years ago 6 years ago 5 years ago 4 years ago 3 years ago 2 years ago Last year 7 28 21 42 35 56 49 1. What is this year's forecast using the nave approach? [49] 2. What is this year's forecast using a four-year simple moving average? [45.5] 3. What is this year's forecast using a three-year weighted moving average with the following weights: [48.3] .20 (3 periods ago) .30 (2 periods ago) .50 (last period)