Question: Question 1. The spreadsheet Assignment3-Forecasting.xlsx contains data for the past 30 months of demand for a product. Based on the data, answer the following questions.

Question 1. The spreadsheet
Question 1. The spreadsheet
Question 1. The spreadsheet "Assignment3-Forecasting.xlsx" contains data for the past 30 months of demand for a product. Based on the data, answer the following questions. a) Plot the data. Just by looking at the plot, do you think a 3-month moving average would be a better forecast, or a 6-month moving average (different people could reach different conclusions, but you need to give good reasons for your conclusions)? b) Which one of the following four forecast methods is the best forecast: 3 -month and 6-month moving averages, and exponential smoothing with =0.2 and =0.6. Justify your answer by calculating MAD. [Submit the excel file along with vour solutions to the assignment. Note that vou need to explain vour answers to the following questions in detail, and just submitting the calculations done by excel is not enough.]. Assignment 3 Data

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