Question: Problem-1 (40 pts) M3 Problem Set: Forecasting for Operations (100 pts) The monthly demand for lime bags at McCall's Garden Supply for the past

Problem-1 (40 pts) M3 Problem Set: Forecasting for Operations (100 pts) The

Problem-1 (40 pts) M3 Problem Set: Forecasting for Operations (100 pts) The monthly demand for lime bags at McCall's Garden Supply for the past 11 months is provided in the tab McCalls Garden Supply. a. Use 2-month, 3-month, and 4-month moving averages to forecast demand in month 11 (5 pts) b. Forecast demand with a 3-month weighted moving average in which demand in the most recent month is given a weight of 3 and demands in the other two months are each given a weight of 1. (5 pts) c. Forecast demand for month 12 by using exponential smoothing with a smoothing constant of 0.7. Assume that the forecast for month 1 is 6,000 bags to begin the procedure. (10 pts) d. Which of the methods analyzed here would you use for month 12 and beyond? Answer by making forecasts for months 5-11 using each of the above methods and then calculating the mean absolute deviation (MAD). (20 pts) Problem-2 (30 pts)

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