Question: Problem 3 (40 points) Calculate the following forecasts using the data below. a. For periods 4 through 10, develop the exponentially smoothed forecasts using a

Problem 3 (40 points) Calculate the following

Problem 3 (40 points) Calculate the following forecasts using the data below. a. For periods 4 through 10, develop the exponentially smoothed forecasts using a forecast for period 3 (F3) of 45.0 and an alpha of 0.4. b. Calculate the three-period moving average forecast for periods 4 through 10. C. Calculate the weighted moving average for periods 4 through 10, using weights of 70,.20, and .10, with 0.70 applied to the most recent data. d. Calculate the mean absolute deviation (MAD) for each forecasting procedure. Which forecasting procedure would you select? Why? Month 1 - 2 3 Demand 45 48 43 5 48 49 54 - 7 8 9 10 47 50 46 47

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