Assignment on Forecasting (15 marks) Use the Excel template for this question and submit your completed Excel file. Provide your answers to each of the following parts on a different worksheet (but all worksheets in one file). The ABC Corporation has collected the following data on its sales in the past 4 weeks. The company only operates from Monday to Friday. Period Demand Monday 1 372 Tuesday IN 462 4 Weeks Ago Wednesday 3 597 Thursday 4 147 Friday 5 282 Monday 6 552 Tuesday 7 507 3 Weeks ago Wednesday 8 642 Thursday 9 237 Friday 10 165 Monday 11 642 Tuesday 12 408 2 weeks Ago Wednesday 13 552 Thursday 14 237 Friday 15 462 Monday 16 642 Tuesday 17 531 Last week Wednesday 18 732 Thursday 19 372 Friday 20 336 Question 1 - (3 marks) Using a simple five-day moving average, calculate the daily forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? Question 2 - (3 marks) Using a weighted average of 0.30 [last day], 0.25 [2 days ago] 0.20 [3 days ago], 0.15 [4 days ago], 0.10 [5 days ago], calculate the forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? [Continue to the next page]Question 3 - (5 marks) Assume that the forecast for Monday of 4 weeks ago was 450 units. Using an Exponential Smoothing with a = 0.25, calculate the daily forecasts for the last 15 days. If a is unknown, find the best value of the smoothing coefficient ( a ) that results in the lowest MSE. Question 4 - (4 marks) Using your forecast for the last 15 days in parts (b) and (c), calculate MAD, MSE and MAPE for each forecasting method. Between the forecasting methods in parts (b) and (c), which one would you choose? Why