John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 4 to the previous month's demand, 3 to demand two months demand three months ago, and I...

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Extracted text: John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 4 to the previous month's demand, 3 to demand two months demand three months ago, and I to ago. If sales amounted to 550 pancakes in May, 700 pancakes in June, and 650 pancakes in July, the forecast for August is 681.75* O True False