Using the factory energy cost data in Exhibit 9.11, find the best moving average and exponential smoothing models using the Moving Average and Exponential Smoothing Excel templates. Compare their forecasting ability with the regression model developed. Which model would you choose and why?

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EXHIBIT 9.11 Format Trendline Dialog Box Format Trendline TRENDLINE OPTIONS 4 TRENDLINE OPTIONS Exponential O Linear Logarithmic Polynomial Order 2 Power Moving Average K Trendline Name Automatic O Custom Forecast Forward Backward Period 2 Linear (Series 2) 0.0 0.0 periods periods Set Intercept Display Equation on chart ✔Display R-squared value on chart 0.0 X