Question: The table below shows the demand for a new aftershave in a shop for each of the last 7 months. Month 1 2 3 4

The table below shows the demand for a new aftershave in a shop for each of the last 7 months. Month 1 2 3 4 Demand 23 29 33 40 41 43 49 1. a) Calculate a two-month moving average for months 3 to 7. What would be your forecast for the demand in month 8? 2. b) Apply exponential smoothing with a smoothing constant of 0.1 to derive the forecast the demands for month 3 to 7. 3. c) Which of the two forecasts is more accurate in terms of MAD? 4. d) Using linear regression what is the forecasted demand in month 8

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