Question: Given the data shown below, use = 0.3 and = 0.4 to create a trend- enhanced exponential smoothing forecast assuming FIT1 = 22 and T1

Given the data shown below, use = 0.3 and = 0.4 to create a trend- enhanced exponential smoothing forecast assuming FIT1 = 22 and T1 = 5. Then use = 0.7 and F(1) = 22 to create a simple exponential smoothing forecast. Finally, create a 2-period moving average forecast. Period 1 2 3 4 5 Demand 31 26 28 27 31 a. Calculate the MFE and MAD for each model. Trend enhanced model, simple exponential smoothing model, and 2-period moving average model. (Round your intermediate calculations and final answers to 1 decimal place.) b. Which model is best? multiple choice 2-period moving average model Trend-enhanced model Simple exponential smoothing model

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