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1. Lara Jones, a new name in the retail industry just started off their journey. With the smarts and vision of its founders, the brand's grandeur will only rise with time. However, the founders really want to predict the customer demand right for the month of May. Hence, they need to figure out the appropriate forecasting techniques. They are eyeing at 2 periods moving average, Nave technique and Exponential Smoothing (Use any value between .05- .15 as the value of alpha). Figure out these 3 forecasting for the month of May from the following table and help them to figure out the better forecasting technique in between, 2 periods moving average, Nave Forecasting and Exponential Smoothing by doing the error calculation. (.50 +.25 +1 +1+ 1+ 1+ .25 = 5 Marks) Period Demand 2 Periods Moving Average Nave Exponential Smoothing 60 Jan 55 65 75 Feb 65 70 ** ** March 85 ** ** 87 * ** April **