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Exponential Smoothing Forecast Ft = aAt-1+ (1 - a)Ft-1 Moving Average Forecast (n=3) F = A,1 + A,-2 + A,-3 3Question 2 The demand observations experienced by Company ABC for bottles of water that are sold in the restaurant are quantied on a weekly basis as per the following table. Included are four demand forecasts, of which there are two moving average forecasts and two exponential smoothing forecasts. Time Actual Forecast Forecast Forecast Forecast (Weeks) Demand (Moving (Moving (Exponential (Exponential observations Average Average Smoothing, Smoothing, 1 800 800 800 800 800 2 900 800 800 800 800 3 1 100 800 800 880 830 4 1000 933 880 1056 91 1 5 1 150 1000 900 101 1 938 6 900 1083 990 1 122 1001 T 1000 1017 1010 944 971 8 1050 1017 1030 989 980 Calculate the forecasts for a_H forecasting mechanisms (Moving Average and Exponential Smoothing) for weeks 9 and E if the demand observed at week 9 is 980. Explain the value of guantitative and gualitative forecasting techniques for Company ABC, given current uncertainties in the environment