Question: Problem 18-4 Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 320 245

Problem 18-4

Here are the data for the past 21 months for actual sales of a particular product:

LAST YEAR THIS YEAR
January 320 245
February 415 370
March 455 375
April 445 470
May 395 400
June 450 340
July 415 325
August 365 295
September 350 375
October 515
November 565
December 535

Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.)

Forecast for the fourth quarter:

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