Discuss the below:
Q: National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows:
Month Sales
(000)Units
Feb. 17
Mar. 18
Apr. 14
May. 27
Jun. 20
Jul. 24
Aug. 24
Forecast September sales volume using each of the following:
(1) A linear trend equation.(Round your intermediate calculations and final answer to 2 decimal places.)
(2) A five-month moving average. (Round your answer to 2 decimal places.)
(3) Exponential smoothing with a smoothing constant equal to .20, assuming a March forecast of 16(000). (Round your intermediate forecast values and final answer to 2 decimal places)
(4) The naive approach.
(5) A weighted average using .70 for August, .10 for July, and .20 for June. (Round your answer to 2 decimal places.)