James Omar is the owner of Omar Transportation and is trying to forecast the cost of transportation from Erie, Pennsylvania to Miami, Florida for his refrigerator product line. The data in the following table represent the cost per refrigerator for this trip over the last several weeks. Review this data and then follow the instructions below:
Transportation Cost per Refrigerator from Erie to Miami
1 2 3 4 5 6 7 8
12.56 12.72 12.99 13.25 13.20 13.17 13.41 ??.??
Use the WMA method of forecasting with weights of 5, 2 and 3 and generate a forecast for time period eight.