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Demand information for 3 time periods is shown in the table below, Period Demand Period Demand Period Demand 1 2 2603238 2.40 FORECASTS: Naive Method Moving Average Weighted Avg Esp Smoothing Pened 4 Forecast Actual Period 4 243 demand 243 Period 4 Forecast Em Period Forecast Answer the following questions. Show your work, as well as, fill in the table above. 1. Using a last period (nave) forecast, fill in the three Nave Method cells in the Forecasts table above. 2. Using a 3-period moving average, calculate the Forecast Demand for Period 4, the Forecast Error for Period 4, and the Forecast Demand for Period 5, and fill in the Moving Average cells in the table. Show your forecast calculations below: Period 4 forecast: Period 5 forecast: 3. Using a 3-period weighted moving average, calculate the Forecast Demand for Period 4, the Forecast Error for Period 4, and the Forecast Demand for Period 5, and fill in the Weighted Avg cells in the table. Use weights.5.4.1 for the most to least recent periods. Show your forecast calculations below: Period 4 forecast: Period 5 forecast: 4. Using exponential smoothing (with a = .6), calculate the Forecast Demand for Period 4, the Forecast Error for Period 4, and the Forecast Demand for Period 5, and fill in the Exp Smoothing cells in the table. Assume the forecast for Period 3 was 228. [Exponential Smoothing: F(t+1)= a D(t) + (1 - a) F(t) ] Show your forecast calculations below: Period 4 forecast: Period 5 forecast: 5. Which forecast method do you think is best? Explain why

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