Question: Answer the 3 parts based on the following partial demand and forecast data for a product: Quarter (t): 4 5 6 Forecast (Ft): 400 430

Answer the 3 parts based on the following partial demand and forecast data for a product: Quarter (t): 4 5 6 Forecast (Ft): 400 430 1600 Demand (DU): 420 370 680 Part a. Compute a 3-quarter simple moving average forecast for quarter Part b. The actual demand for quarter 7 turned out to be 1060. Compute an exponentially smoothed forecast for quarter 8 with a 0.15. Use the forecast for quarter 7 from parta) Part c. Observing the actual demands for quarters 4 through 7 you are thinking about updating the value of a in part b). Would you choose a smaller or larger value than 0.15? Justify your

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