Question: Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 320 290 February 440

Here are the data for the past 21 months for actual sales of a particular product:

LAST YEAR THIS YEAR
January 320 290
February 440 355
March 450 355
April 480 465
May 455 418
June 455 350
July 380 340
August 340 292
September 400 335
October 480
November 585
December 540

Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.)

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