2) Develop forecasts for FY2021 using the two forecasting methods currently employed by Throx. Please show your work so I understand how to calculate each method.

Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years:

Demand Characteristic	2019	2020
Annual Demand, sets	26,817	30,722
Average Weekly Demand	496	591
Standard Deviation of Weekly Demand	124	148

Product Forecasting Information Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. The table below provides forecast calculations for FY2017 through FY2020, along with actual demand experienced in each of those years.

	Actual Demand (Three Sock Sets)	Weighted Moving Average Forecast (MA)	Exponential Forecast (EXP)
2017	19,025	16,500	16,300
2018	22,450	16,915	18,753
2019	25,817	20,275	22,080
2020	30,722	23,785	25,443

Weighted Moving Average uses W_t = 0.6, W_t-1 = 0.2, W_t-2 =0.2

Exponential Smoothing uses = 0.9 and 1- = 0.1