Question: DO NOT answer this question unless you work out the answer yourself. I have seen other answers posted to this question but I still have

DO NOT answer this question unless you work out the answer yourself. I have seen other answers posted to this question but I still have queries. If answers are copied and pasted, I will down-vote.

DO NOT answer this question unless you work out

Question 2 Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local community. Customers love the quality of meet that Mr. Ferdinand sells so they tend to recommend his product to other persons. Recently, Mr. Ferdinand has been running out of beef to sell to his customers. One customer suggests to him that he must use past sales records to forecast demand for his beef so that he can meet his customers demand. I. Using a numerical example, demonstrate to Mr. Ferdinand how he can use a three- week and a four-week weighted moving average to forecast demand for his beef. [12 marks] II. Show how Mr. Ferdinand can test the accuracy of his forecast. [7 marks] Explain to Mr. Ferdinand two ways in which he can benefit from doing forecast for his beef. [6 marks]

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