Question: You must decide which Forecasting Model should be used to predict the Demand based for this historical data. For full credit, all calculations must be

You must decide which Forecasting Model should be

You must decide which Forecasting Model should be used to predict the Demand based for this historical data. For full credit, all calculations must be done using Excel formulas. Please use these forecast parameters: W1 0.550 alpha a: 0.45 W2 0.350 delta 8: 0.75 W3 0.100 use the Jan-2015 actual demand for the Ft and FITE values for that time period a Month Demand (1000 tons) 3-mo. Moving Average Weighted Moving Avg. Exp. Smoothing Exp. Sm. With Trend Jan-2015 25.6 Feb-2015 25.2 Mar-2015 25.4 26.1 Apr-2015 May-2015 Jun-2015 27.0 26.5 Jul-2015 26.7 26.8 Aug-2015 Sep-2015 Oct-2015 26.5 25.9 Nov-2015 26.1 Dec-2015 25.9 Jan-2016 25.9 Feb-2016 26.0 Mar-2016 25.9 Apr-2016 25.8 Now compute the error metrics for the time period Apr-2015 to Apr 2016: MAD MAPE TS 3-month Moving Average Weighted Moving Average Exponential Smoothing Exp. Smooth. With Trend Based on the MAD and MAPE, which Forecast Model is the best? Plot the Actual Demand and all Forecast Models (make sure to include Title, Axis-labels, and legend)

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