Problem 3: (5 points each - total 35) Please write the answers on a separate tab in the Excel file. 1. When would you use the Last Value method of forecasting vs. the Moving Average? 2. What role does the value of alpha play in the Exponential Smoothing with seasonality method of forecast? 3. When do you use the causal forecasting? Give an example. 4. When do you use the Delphi method of forecasting? 5. Why do we adjust the true historical values by seasonal factors? 6. What is a time series? 7. The forecasting method which uses grass-roots information to achieve a forecast is: a. b Oo oo sales force composites. surveys. the Delphi method. time-series analysis. executive opinions. d e 1