Question: do jot copy from chegg answers it is different statement from them please read carefully The data below represent the demand for a new aftershave

do jot copy from chegg answers it is different statement from them please read carefully

The data below represent the demand for a new aftershave in a shop for each of the last 7 months.

Month 1 2 3 4 5 6 7

Demand 23 29 33 40 41 43 49

a. Forecast the demand by using a two-month moving average for months two to seven. What would be your forecast for the demand in month eight?

b. Apply exponential smoothing with a smoothing constant of 0.1 to derive a forecast for the demand in month eight.

c. Which of the two forecasts for month eight do you prefer and why?

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