Chapter 3 Forecasting Chapter 4 Product and Service Design Homework Assignment for 15 points 15 points due by 11.59 pm March 29 (Monday). Note: You can team up with one of your classmates to complete the assignment (not more than two in a team); if you want to work on the assignment individually, that's also fine. If you are working in teams, then only one submission is required per team; include both the team members' last names as part of the assignment submission file name as well as in the assignment submission document. Please provide detailed solutions to the following problems/exercises (1 problem/exercise x 15 points): 1) Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten years of tourist visits to the area. The following data has been gathered on number of tourists who signed into the local information center. Year Number of Tourists 1 700 2 248 3 633 4 458 5 1410 6 1588 7 1629 8 1301 9 1455 10 1989 hela Tom is interested in implementing a forecasting system and is investigating the following forecasting methods as possibilities: a) Simple moving average b) Weighted moving average (for the weighted average method, choose the weights you want) c) Simple Exponential Smoothing (for the exponential smoothing method, begin with the assumption that the forecast for year 9 was 1500, choose any alpha value you want) d) Regression For each of the above four methods, calculate the forecast for year 11. Explain which forecasting method among the above four is appropriate for the data and the time frame given. Note: Use the excel template provided to solve the problem; the excel template (i.e. excel file) is your submission. Upload the completed assignment using the file extension format Lastname_Firstname_Week2.doc. Refer to the "Submissions" section in the "Annexure to Syllabus" document and the "Assessment Rubrics" document for more information/instructions regarding assignment submissions