Question 2. (Total 30 points) a) What advantages do exponential smoothing have over moving average? How does the number of periods in a moving average affect the responsiveness of the forecast? How does the size of the smoothing constant in exponential smoothing affect the responsiveness of the forecast? (5 points) There's a new band in town, Cool Spring, and they want to determine a forecasting method to help them estimate revenue. To date they have generated the following revenue: Month September October November December January Revenue $990 1,010 980 1,020 970 b) Calculate forecasts for September - January using linear-trend and double- exponential smoothing methods. Use an a = 0.25 and B = 0.5 (start with initial estimates Ssept = $300, Tsept = $20). (15 points) c) Calculate MAPE for September - January for each method and indicate which method provides the better forecasts; state any necessary assumptions. Explain. (8 points) d) Forecast revenue for February and March based on your preferred method. State any necessary assumptions. (2 points)