Considering the Moving Average $($MA$)$ and Exponential Smoothing $($ES$)$ methods, which of the following is FALSE? $($Select only

Both methods are derived with assumption that the underlying demand process is stationary.

One advantage of moving average method is that it can reflect complex relationships in data.

Exponential smoothing method is a type of weighted moving average.

Exponential smoothing method only requires last forecast and last observation of demand to continue.