1) Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table. YEAR 1 2 3 4 5 6 7 8 DEMAND FOR FERTILIZER (1,000S OF BAGS) 7 6 5 7 10 9 13 15 a) Develop a 3-year moving averages model to forecast sales. b) Develop a 3-year weighted moving averages model in which sales in the most recent year are given a weight of 3 and sales in the other 2 years are each given a weight of 2. c) Use exponential smoothing with a smoothing constant of 0.4 to forecast the demand for fertilizer. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure. d) Develop a trend line model to forecast sales. You may use excel to find the intercept and slope coefficients of the trend line. e) Which of the developed forecasts (3-year moving averages, weighted moving averages, exponential smoothing, and trend line) would you use based on each of MAD, MSE, MAPE, and bias? Explain your answer. 1) Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table. YEAR 1 2 3 4 5 6 7 8 DEMAND FOR FERTILIZER (1,000S OF BAGS) 7 6 5 7 10 9 13 15 a) Develop a 3-year moving averages model to forecast sales. b) Develop a 3-year weighted moving averages model in which sales in the most recent year are given a weight of 3 and sales in the other 2 years are each given a weight of 2. c) Use exponential smoothing with a smoothing constant of 0.4 to forecast the demand for fertilizer. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure. d) Develop a trend line model to forecast sales. You may use excel to find the intercept and slope coefficients of the trend line. e) Which of the developed forecasts (3-year moving averages, weighted moving averages, exponential smoothing, and trend line) would you use based on each of MAD, MSE, MAPE, and bias? Explain your