After reviewing the forecasting demonstration and looking over the slides, complete the following case activity and transfer your answers to the appropriate questions in the Canvas activity quiz. You have been hired as a demand planning intern for Hawaiian Island Creations (HIC) They want you to develop a forecast for their HIC sunglasses line. The goal is to determine how many pair they will produce to meet retailer demand for July 2023 During your first meeting, you were handed some data to work with and the product team talked about the company's upcoming promotional blitz to support Summer Break 23 in major vacation destinations. Other useful information about the company: Internal production capacity \\( =6,500 \\) units per month Historical forecasting error \\( = \\pm 300 \\) units per month Evaluate the capacity of HIC's internal production capacity to serve demand. Assuming that the factory output for May 2023 is 5.700 , what is the capacity utilization for the month? Based on HIC's avallable resources, do they have enough internal production capacity to serve June 2023 demand? Calculate the demand forecast for July 2023 using the methods listed below. Work with the data provided in the table on the previous page. Three-Month Simple Moving Average Three-Month Weighted Moving Average Weight factors \\( t-1=6 \\quad t-2=3 \\quad t-3=1 \\) Exponential Smoothing Alpha smoothing constant \\( =7 \\) Which method do you recommend that the company use when forecasting July 2023 demand? Explain why you selected this method Based on their historical forecasting error, how well is HIC doing in terms of forecast accuracy