Here are the data for the past 21 months for actual sales of a particular product:
LAST YEAR THIS YEAR
January 370 305
February 410 395
March 410 340
April 440 450
May 440 455
June 485 390
July 440 350
August 300 295
September 400 355
October 540
November 590
December 480
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