Please help explain how to solve these problems, not only give the answers.
Problem
a. 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 |
b. 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.)