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3. A firm experienced the demand shown in the following table. Actual 5-year 3-year Exponential Exponential Year Demand Moving Moving Smoothing Smoothing Average Average (w=0.9)

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3. A firm experienced the demand shown in the following table. Actual 5-year 3-year Exponential Exponential Year Demand Moving Moving Smoothing Smoothing Average Average (w=0.9) (w=0.3) 2013 800 2014 925 2015 900 2016 1025 2017 1150 2018 1160 2019 1200 2020 1150 2021 1270 2022 1290 2023 a. Fill in the table by preparing forecasts based on a five-year moving average, a three-year moving average, and exponential smoothing (with a w = 0.9 and a w = 0.3). Note: The exponential smoothing forecasts may be begun by assuming (Yt+1) = (Yt) b. Using the forecasts from 2018 through 2022, compare the accuracy of each of the forecasting methods based on the RMSE criterion. c. Which forecast would you have used for 2023? Why

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