Using the actual demand shown in the table below, what is the forecast for May (accurate to 1 decimal) using a 3-month weighted moving average and the weights 0.20, 0.35, 0.45 (with the heaviest weight applied to the most recent period.Round to nearest whole number) ?
Definitions:
Optimal Consumption
The point at which a consumer maximizes his or her satisfaction or utility from the consumption of goods and services, given a budget constraint.
Loaves
Typically refers to units of bread shaped and baked in specific sizes and forms but does not directly correlate to a distinct economic term.
Pounds
A unit of weight in the imperial system, equal to 16 ounces or approximately 0.453592 kilograms.
Consumer Equilibrium
A state in which a consumer has allocated their income in a way that maximizes their total utility, given the prices of goods and services.
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