Question: Omar wants to develop a simple forecasting method to help him know how many apprentices to hire, how much wood to purchase, and so forth.

Omar wants to develop a simple forecasting method to help him know how many apprentices to hire, how much wood to purchase, and so forth. The table below contains demand information for the past six months:

Month J.S. Carvings Sold
154
254
346
440
555
646

What is the3-month moving averageforecast for carvings to be sold in Month 7? (Display your answer to twodecimal places.) Using a 3-monthweighted moving average (with last month's weight as 0.5, two months previous as 0.3, andthree months previous as 0.2) what is the forecast for Month 7? (Display your answer to two decimal places.)

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