Using the data in Solved Problem 10-3, develop a spreadsheet for a 2-period weighted moving average forecast with weights of 0.6 (w1) for the most recent period and 0.4 (w2) for the other period. Note these weights sum to 1, so the forecast is simply
Forecast for next period = w1 (Value in current period) + w2 (Value in last period)
Find the weights for this 2-period weighted moving average that would minimize the MAD.