Question: Please don't use chatgpt. Please answer with the steps and formula Suppose you (or your group) are the manager of a company trying to determine

 Please don't use chatgpt. Please answer with the steps and formula

Please don't use chatgpt. Please answer with the steps and formula

Suppose you (or your group) are the manager of a company trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecasts and specify what procedure you would utilize. a. Calculate the simple 3-month moving average forecast for periods 4-6. (5 points) b. Calculate the weighted 3 -month moving average using weights of 0.50,0.30, and 0.20 for periods 46. (5 points) c. Calculate the single exponential smoothing forecast for periods 2-6 using an initial forecast (F1)61, and an of 0.30 . (10 points) d. Calculate the exponential smoothing with trend component forecast for periods 2-6 using an initial trend forecast (T1) of 1.8 , and initial exponential smoothing forecast (S1) of 60 an of 0.30 and a of 0.30 . (15 points) e. Calculate the Mean Absolute Deviation (MAD) for the forecasts made by each technique in periods 4-6. Which forecasting method do you prefer? Using your preferred technique forecast the demands for the following 2 months (months 7-8). (15 points)

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