The Exponentially Weighted Moving Average (EWMA) model: lt = \xt + (1 - 1)lt-1 is used to make forecasts of the stochastic process, Xt. Using =0.1, and given xt = 6 and lt-1 =5: A) Showing your working, what is the estimate of lt ? [3 points] B) Showing your working, what is the estimate of lt+3 ? [3 points] C) How should this model be changed if xt is actually defined by the stochastic process: Xt = + Xt 1 + Et Explain your reasoning and write out your suggested version of the Holt-Winters model in full. [4 points] The Exponentially Weighted Moving Average (EWMA) model: lt = \xt + (1 - 1)lt-1 is used to make forecasts of the stochastic process, Xt. Using =0.1, and given xt = 6 and lt-1 =5: A) Showing your working, what is the estimate of lt ? [3 points] B) Showing your working, what is the estimate of lt+3 ? [3 points] C) How should this model be changed if xt is actually defined by the stochastic process: Xt = + Xt 1 + Et Explain your reasoning and write out your suggested version of the Holt-Winters model in full. [4 points]