Question: 1 . ( Forecasting ) Weekly demand for a product is given in the table below: ( a ) Using Microsoft Excel, plot the weekly

1.(Forecasting) Weekly demand for a product is given in the table below:
(a) Using Microsoft Excel, plot the weekly demands, and comment on it by considering the components of a time series.
(b) Apply the 5-week moving average method to make forecasts for weeks 6 through 10.
(c) Take the estimated value of the level at the end of week 5 as the moving average value computed in part (b) for week 5. Choose \(\alpha=0.2\). Apply the method of simple exponential smoothing to determine single-week-ahead forecasts for demands 6 through 10.
(d) Choose \(\alpha=0.2\) and \(\beta=0.3\) and apply the method of double exponential smoothing to determine single-demand-ahead forecasts for demands 6 through 10.
(e) Using Microsoft Excel, on the same graph, plot the forecast errors of the methods in parts (b),(c), and (d). Do you observe any bias in the methods in parts (b),(c), and (d)? Show your answer by any method of measuring bias.
 1.(Forecasting) Weekly demand for a product is given in the table

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