PLEASE USE THE WEIGHTED MOVING AVERAGE METHOD & SOLVE THE FOLLOWING QUESTION ON EXCEL AND SHOW THE STEPS

(SHOW STEPS ON EXCEL)

For the data set below:

1) a) Use the weighted moving average method in forecasting. (Give justification when assigning the weights).

b) Provide an explanation of the pros and cons of using this method for this data set.

c) Generate a forecast for 2002.

TABLE 2	COST OF LOCKERS
Year	Per-Unit Labor Cost
1988	$80.15
1989	85.29
1990	85.75
1991	64.23
1992	63.70
1993	62.54
1994	60.19
1995	59.84
1996	57.29
1997	58.74
1998	55.01
1999	56.20
2000	55.93
2001	55.60