Question: Please help with the following question QUESTION 3 Month (2018) Actual Two Month Linear trend Income (in Moving thousands $) Average July 70.00 August 68.50

Please help with the following question

Please help with the following question QUESTION 3 Month (2018) Actual Two

QUESTION 3 Month (2018) Actual Two Month Linear trend Income (in Moving thousands $) Average July 70.00 August 68.50 September 64.80 October 71.70 November 71.30 December 72.80 The table above presents actual monthly income of the last six months of operations from a small supplier. The data are presented in the form of a monthly time series. a ) Redraw the table and complete the table by computing forecasts for (1) a two-month moving average method assuming the actual income in June was $71,000. (ii) the linear trend method. Show working for calculations. (6 marks) b) (i) Calculate the mean absolute deviation (MAD) for the two forecast methods. (6 marks) (ii) Which forecasting method is most suitable based on this measure? (1 mark) C) Using the most suitable forecasting method, predict the income for January 2019. (2 marks)

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