1: Following table shows the weekly sales of smart phones at electronic retail store: Week Number of smart phones Sold Forecast using 3 period moving average Error Forecast using exponential smoothing (with a=0.4) Error 1 23 14 Strikethrough -23456 7 8 26 33 29 20 Answer the following questions based on the data given above. Show all your calculations. a. What is the expected sales for the 7th week based on 3 period moving average? What is the forecast for the 8th week using the same method if the actual sales for week 7 happens to be 25? (15 Points) ANSWER: Week 7: Week 8: b. What is the expected sales for the 7th week based on exponential smoothing with a = 0.4? (15 Points) ANSWER: Week 7: c. Which of the above two forecasting method is better based on MSE? Why? (20 Points)