Exercise 2: (5 marks) Two independent methods of forecasting based on judgment and experience have been prepared each month for the past four months. The forecasts and the actual sales are as follows: 815 791 Month Sales Forecast 1 Forecast 2 Error Forecast 1 Error Forecast 2 1 779 775 773 4 6 2 785 783 787 2 2 3 791 790 793 1 2 4 795 793 794 2 1 5 799 790 795 9 4 6 812 791 798 21 14 7 791 810 24 5 8 814 MAD Calculation 9.0 4.8 a. Forecast month No 5 in forecast-1, by using a weighted average forecast with weights.5 for the previous month, 0.3 for the month before that, and 0.2 for the last month b. Forecast month No 5 for forecast-2. by using exponential smoothing with a=0.85 c. Given the sales of months 5.6. to be (799 $12, and 815) compute the above forecasts with the same models (weighted average for F-i and exponential smoothing for F-2), and then calculate MAD and decide which technique is superior MAD Forecast 1: 9 MAD Forecast 2: 4.85 with the same models (weighted average for F-1 and exponential smoothing for F-2), and then calculate MAD and decide which technique is superior. MAD Forecast 1:9 MAD Forecast 2: 4.85 Technique Forecast 2 is superior. Hint. Don't forget to calculate month (8) Question: up to which month will you calculate MAD? Please type your answer below. Up to Month 7