Objective: LO 4.3 Apply the naive, moving-average, exponential smoothing, and trend methods AACSB: Analytical thinking Learning Outcome: Describe major approaches to forecasting 3. Asos Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. The managers are conducting an inventory control study of all their items. The following data are for one such item, which is not seasonal. (a) Use a trend projection to estimate the relationship between time and sales (state the equation). (b) Calculate forecasts for the first four months of the next year. 1 2 3 4 5 6 7 8 9 10 11 12 Month Jan Feb Mar Apr MayunJul Aug Sep Oct Nov Dec Sales 51 55 54 57 50 68 66 59 67 69 75 77 Answer: Diff: 3 Objective: LO 4.3 Apply the naive, moving-average, exponential smoothing, and trend methods AACSB: Analytical thinking Learning Outcome: Describe major approaches to forecasting