1. Open new MS-Excel Workbook
2. Complete Problem #3 on page 172 of Textbook.
3. In the MS-Excel Workbook, create and label a separate tab for each of the following:

• "3-Year Moving Average"
• "3-Year Weighted Moving Average"
• "Exponential Smoothing"

Enter the solution for each on the tab as labeled.

3. The owner of the Chocolate Outlet Store wants to forecast chocolate demand. Demand for the preceding four vears is shown in the following table: Forecast demand for year 5 using the following approaches: (1) a three-year moving average; (2) a three-year weighted moving average using 0.40 for year 4,0.20 for yeas 3 , and 0.40 for year 2 ; and (3) exponential smoothing with =0.30, and assuming the forecast for period 1=68,000