********* Please show correct work/formulas! Much appreciated. *********

2. The Ichabod Shop at Washburn is currently preparing for a forecast plan for next year. Sales for the past 10 months for hoodies are listed below. Month Demand 115 118 2 3 120 4 15 16 7 119 114 118 122 120 117 114 8 9 10 To determine the best forecasting methods for the shop, you need to calculate forecasts using several methods as instructed and compare the errors. Keep one decimal when calculating forecasts and errors Note: For each forecasting method below (a-d), calculate: i. the cumulative sum of forecast error (CFE), ii. the mean absolute deviation (MAD), ii. standard deviation of the errors, a. Calculate forecast using naive forecasting method for periods 4 through 10. b. Three-period moving average forecast for periods 4 through 10. c. For periods 4 through 10, develop the exponentially smoothed forecasts using a forecast for period 3 (F3) of 120.0 and an alpha of 0.3. d. For periods 4 through 10, do trend projection (hint: use Excel for the regression equation) e. Which forecasting procedure would you select? Why