In 900 to 1000 words, describe the pitfalls of moving average forecasting.
Address the given in the report:
1) Explain the chosen forecast method in detail.
2) Explain the pitfalls of the selected forecast method.
3) Determine the consequences of using an inaccurate forecast.
4) Explain why forecasts are always wrong and how the selection of different forecast types might mitigate forecast error.
5) Explain each member's ideas/recommendation in detail.
6) Explain how the group came to a consensus on the selected forecasting method.
7) Explain if the selected forecast method would help a company.