2) Develop forecasts for FY2023 using the two forecasting methods currently employed by Throx.

a) What are the forecast values that you calculated for each? Please be sure to show work.

b) What forecast do you recommend using? Please provide your rationale.

c) Are there other considerations or recommendations that you would recommend to Throx about their forecast.

PLEASE INCLUDE FORMULAS USED in EXCEL FORMAT. Trying to verify if formulas used were correct.

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. \begin{tabular}{|c|c|c|c|} \hline & ActualDemand(ThreeSockSets) & WeightedMovingAverageFcst & ExponentialForecast \\ \hline 2019 & 19,525 & 15,500 & 16,300 \\ \hline 2020 & 23,750 & 17,215 & 19,203 \\ \hline 2021 & 30,722 & 21,155 & 23,295 \\ \hline 2022 & 34,950 & 27,088 & 29,979 \\ \hline \end{tabular} Weighted Moving Average uses Wt=0.6,Wt1=0.2,Wt2=0.2 Exponential Smoothing uses =0.9 and 1=0.1