Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving...

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Extracted text: Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving average. (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600 + 2(L3D). Table 3: Demand Data Jan Feb Mar April May June July Aug Sept 980 1100 1270 1325 1380 1752 2054 2034 2064