Question: The data below represent the demand for a new aftershave in a shop for each of the last 7 months. Month 1 2 3 4
The data below represent the demand for a new aftershave in a shop for each of the last 7 months. Month 1 2 3 4 5 6 7 Demand 23 29 33 40 41 43 49 a. Calculate a two-month moving average for months two to seven. What would be your forecast for the demand in month eight? b. Apply exponential smoothing with a smoothing constant of 0.1 to derive a forecast for the demand in month eight. c. Which of the two forecasts for month eight do you prefer? Explain your
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