The table below provides a list of sales figures for this past year (2017) for your mountain resort. You want to project a forecast for January of...

The table below provides a list of sales figures for this past year (2017) for your mountain resort. You want to project a forecast for January of the following year (2018). You want to select from 3 models to make your forecast: 1) a 3-month moving average; 2) a weighted moving average (you believe your weights should be 0.2, 0.3, & 0.5); and 3) an exponential smoothing model in which will use an a = 0.2. Your forecast for January 2017 was $31,000.

1. How would you make a table that shows each of these forecasts for the current year and provide the forecast for January of 2018.

2. Using the data given, and your forecasts, which model do you think is the best model for your business?

Month Previous Year Sales in $

January 2017 $32,645

February 2017 $31,456

March 2017 $30,270

April 2017 $33,129

May 2017 $34,456

June 2017 $35,256

July 2017 $36,218

August 2017 $35,456

September 2017 $34,250

October 2017 $32,156

November 2017 $30,125

December 2017 $32,275