Question: Problem 2: Forecasting Methods Below is the actual demand for an item over a 6-month period. Your boss wants to test two forecasting methods to

Problem 2: Forecasting Methods Below is the actual demand for an item over a 6-month period. Your boss wants to test two forecasting methods to see which method was better over this period. Month Actual Demand June 260 July Aug 210 330 Oct 250 Nov 280 Sept 220 a) Forecast Sept-Dec using a three-month moving average. b) Forecast Aug-Dec using a two-month weighted moving average. Use 0.8 for the weight for the most recent month, and 0.2 for the weight for the previous month. c) Calculate the MAD for each forecast you created in parts a and b. d) Using the more accurate forecast you identified in part c, what is your forecast for December? (you can leave the answer as a decimal)

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