1. To answer the question above, firstly based on the monthly sales data of Year 1, 2, 3, 4 and 5, you should forecast the 12 monthly demands of Year 6 from January to December using "moving average", "simple exponential smoothing", "Holts' model" and "Winter's model" respectively. Secondly, you should calculate the forecast-error indicators of bias, TS, MAD, MAPE, and MSE regarding these four models. Thirdly, based on your findings, you should identify the best forecasting methods and provide your justifications. 2. Two documents should be submitted for this assignment. The first is the Excel file in which the formula, the calculation processes and solutions of the four forecasting methods, and the related forecast-error estimates of bias, TS, MAD, MAPE, and MSE should be given. The second is the word file in which your identification of the best forecasting method for the case and the relevant justifications are provided

Considering monthly demands for the ABC Corporation as shown below. Question Forecast the monthly demands for Year 6 using moving average, simple exponential smoothing, Holts' model and Winter's model. In each case, evaluate the bias, TS, MAD, MAPE, and MSE. Which forecasting method do you believe is the most suitable one in this case? and Why