a) Briefly state the basic, six-step approach to help an organization perform effective forecasting. (6 marks) b) Given the following data for demand at the XYZ Company shown in table 1, i) Calculate the monthly forecast for 2003 using a 3-month moving average. (4 marks) ii) Calculate the MAD and the tracking signal. marks) (2 iii) Is this a good forecast? Explain your answer marks) iv) Complete the table shown below. (4 marks) II Period Demand Forecast Error MAD Bias TS Oct 02 850 Nov 02 950 Dec 02 900 Jan 03 1000 Feb 03 950 Mar 03 1050 Apr 03 850 May 03 1100 Jun 03 900 Jul 03 1150 Aug 03 1100 Sep 03 900 Oct 03 1000 Nov 03 800 Dec 03 1000