Question: Solve the following problem in class. The quarterly demand for smartphones at a retailer is as show. Year 1 Quarter Demand 513 1 II

Solve the following problem in class. The quarterly demand for smartphones at

Solve the following problem in class. The quarterly demand for smartphones at a retailer is as show. Year 1 Quarter Demand 513 1 II 932 1 III 1509 1 IV 1902 2 I 693 2 II 1163 2 III 1857 2 IV 2469 Forecast the quarter 1 demand for year 3 using the following models: 1. 4-quarter simple moving average. 2. Simple exponential smoothing with a = 0.1. We assume that the forecasted value of quarter 1 is 500. 3. Which method is the most accurate and why?

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