Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR
January 320 295
February 380 370
March 420 362
April 425 465
May 440 430
June 475 375
July 440 375
August 310 315
September 375 385
October 540
November 575
December 555
Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.)
Forecast for the fourth quarter