Monthly sales for a six month period are as follows:

Compute the sales forecast for July using the following approaches:
(1) Four-month moving average;
(2) Weighted three-month moving average using .50 for June, .30 for May and .20 for April;
(3) Exponential smoothing with α (smoothing constant) equal to .40, assuming a February forecast of
18,000

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Month Jan Feb Mar Apr May June Sales 18,000 22,000 16,000 18,000 20,000 24,000 Month Jan Feb Mar Apr May June Sales 18,000 22,000 16,000 18,000 20,000 24,000