Forecasting Models - please show all work

Exercise 3: Forecasting Models (5 points) BPH is considering an expansion of its ED department. Currently, the maximum capacity is set for 83,000 visits per year. Year ED Visits 1 75,000 2 72,800 3 76,000 4 76,400 5 71,232 6 74,455 7 74,240 8 74,560 9 75, 180 10 75,420 a. Develop a 3-year moving average forecast (starting year 4) b. Develop a two year weighted average forecast with the weights of 2 for the most recent year and 1 for the older year. c. Develop an exponential smoothing forecast using a forecast of 74,000 visits for year 1 and a=0.7. d. Compute the MAD for each of the aforementioned methods (disregard the first data point for the exponential smoothing model). Based on your results, which forecasting method yields the best result? Using that method, what is your forecast for next year