Please show all work (including calculator commands) and round your answers to three decimal places.

1.For fun, Sam decides to look at the sales data.

Using two different methods, he computed two different forecasts.Use a 3 month moving average and an exponential smoothing with a weight of .25 to forecast sales given the following data.Start in month

Month

1

2

3

4

Actual Sales

500

450

550

715

2 Month Moving

Average Forecast

X

X

Exponential Smoothing

Forecast

X

500