Problem 2: (25 points) Part 1: AKSOB forecasts in 2020 The AKSOB is trying to forecast how many sections of OPM 301 they should open. This is, of course, based on the number of students that they estimate will be taking the course. They have total enrollment numbers for the past six years. In order to make their forecast they use two different strategies a simple two-period moving average and a weighted two-period moving average with weights of 0.7 for the most recent period and 0.3 for the earlier period. Period Students F1: 2-Period F2: 2-Period Percent error, Percent error, Moving Weighted F2 Average Moving Average F1 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 400 360 440 480 520 500 380 400 460 500 372 416 468 508 13.6% 16.7% 11.5% 15.5% (d) 10.0% 1.6% (a) (3 point) Using forecast method one (2-period Moving Average), what is the forecast of students in year 7? (b) (3 point) Using forecast method two (2-period Weighted Moving Average), what is the forecast for students in year 7? (c) (2 points) What is the value of the cell marked (c) in the table? (d) (2 points) What is the value of the cell marked (d) in the table? (e) (2 points) What is the MAPE for Forecast 1? (1) (2 points) What is the MAPE for Forecast 2? (9) (2 points) Which forecasting method do you recommend AKSOB use to make their forecast for Year 7? Why? Part 2: AKSOB forecasts in Fall and Spring 2021 Now, the AKSOB would like to forecast the number of students that will take OPM 301 in each semester - Fall and Spring 2021. Past data shows that on average 60% of the students take OPM 301 in the Fall and 40% of the students take OPM 301 in the Spring Semester (a) (4 points) What seasonal indices should AKSQB use to forecast the number of OPM 301 students in each semester? (b) (5 points) If the AKSOB forecasts that there will be 506 students in Year 7. how many of those will enroll in Fall semester