Problem 3 Chapter 8: An intensive care unit manager would like to forecast the number of inpatient admissions for the next year. Inpatient admissions for the unit over the past 10 years are shown in the following table. Year Admissions 1 321 2 345 3 330 4 368 5 405 6 395 7 456 8 469 9 474 10 465 a) Prepare a forecast for admissions for years 4 through 11 by using a three-year moving average method b) Calculate the mean squared error (MSE) for the three-year moving average method, with error measurement beginning in year 4. Assume that the initial forecast for year 1 is 340 admissions. Prepare a forecast admissions for years 2 through 11 by using an exponential smoothing method wit a=0.30. 1) Calculate the mean squared error (MSE) for the exponential smoothing method a = 0.30, with error measurement beginning in year 4. Compare the performance of the two forecasting methods by using MSE as the performance criterion. Which method would you recommend based on MSE? Why