Your line manager has presented you the passenger data from $202022$ shown in Table $1.$ Currently the airport is forecasting the passenger numbers using $2$Month Moving Average method. Your line manager is concerned that this may not be the most appropriate and accurate method of forecasting for the company. She is proposing that the airport moves to $2$Month Weighted Moving Average method of forecasting with the weight of $0\mathrm{.}7$ for the most recent period and $0\mathrm{.}3$ for the older period. She is also interested in finding out which method of forecasting you would select for the company $[$N$.$B$.$ You must select one of the forecasting methods covered in the module$].$She wants you to analyse the available data $($shown in Table $1)$ and produce a short report $(2,000$ words $\backslash$pm $10\%$ excluding figures, tables and references$)$ that include relevant tables and figures to fully address the issues listed below. Your report needs to consider three different methods of forecasting; current model, model proposed by your line manager and a model you have selected. Your aim is to identify a forecasting method that is most appropriate for the North London Airport Hub.Include the following in your report:$1.$ Analyse the data given to you. How does the data behave? What patterns are present inthe demand? How do you know? How is this relevant to selecting a forecasting model? Support your analysis with appropriate tables and figures. Page$1$of$58.$ Cover page, table of content, introduction, conclusions and list of references. Table $1$: Passenger number in North London Airport Hub $202022$MGT$2221$ & MGT$2222$ Operations Management; $2023242.$ Generate the forecast for $202022$ using the current model. Analyse the results. Is appropriate forecasting model being applied? Why$/$why not? Discuss. Support your analysis with appropriate formulas, tables and figures$\mathrm{.}3.$ Generate the forecast for $202022$ using the model propose by your line manager. Analyse the results. Is this appropriate forecasting model for the company? Why$/$why not? Discuss. Support your analysis with appropriate formulas, tables and figures$\mathrm{.}4.$ What forecasting model would you use? Justify the model you have selected. Why do you think this is the best forecasting method for the company to use? Generate the forecast for $202022$ using the model you have proposed. Analyse the results. Support your analysis with appropriate formulas, tables and figures. $[$N$.$B$.$ You must select one of the forecasting methods covered in the module$]5.$ Determine the forecast error for the current model, the model proposed by your line manager and the model you selected. Explain and justify the method you have used to calculate the forecast error. Analyse the results and compare the three forecasting methods. What are your key observations? How could you use this information when selecting the method of forecasting? Support your analysis with appropriate formulas and tables$/$figures$\mathrm{.}6.$ Provide two key recommendations for the company, i$.$e$.$ what action should they take and why. You must deliver your recommendations from the analysis you have conducted in this report. Justify your recommendations$\mathrm{.}7.$ Discuss the role of forecasting and the implications of forecasting accuracy to operations of the airport. Why is forecasting important and how might passenger forecast be used by the airport? Consider some of the operational issues covered in this module.Year$202020202020202020202020202020202020202020202020$MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberPassengers$13,441,71811,942,22114,670,99614,286,84414,537,31415,906,10117,362,58616,969,52814,010,92013,599,03012,919,74614,289,105$Year$202120212021202120212021202120212021202120212021$MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberPassengers$13,970,07712,230,96315,447,43514,507,03815,516,06316,487,70217,954,91017,786,35714,408,81714,374,25413,258,10415,182,616$Year$202220222022202220222022202220222022202220222022$MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember$14,470,07712,730,96315,947,43515,007,03816,016,06316,987,70218,454,91018,286,35714,908,81714,874,25413,758,10415,682,616$