Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the "Fast Current" sea touring kayak paddle. You are responsible for ensuring that there is enough production capacity to meet demands (given the very high markup on the paddles). Year Year Year 1 Year 5 Year 2 Year 6 Quarter Demand Q1 15 Q2 19 03 20 Q4 18 Q1 20 Q2 17 03 19 04 20 01 20 Q2 26 Q3 30 04 04 34 01 35 Q2 35 03 38 04 40 Quarter Demand Q1 42 Q2 41 Q3 53 Q4 52 Q1 65 Q2 59 03 56 Q4 61 01 Q2 63 Q3 64 04 69 01 66 Q2 74 03 70 04 71 Year 3 Year 7 63 Year 4 Year 8 pictureClick here for the Excel Data File a. Given the data shown above, beginning in Quarter 1 of year 2, use a moving average based on four quarters to predict the demand in each quarter. (Leave no cells blank - be certain to enter "0" wherever required. Negative answers should be indicated by a minus sign. Round your forecast answers to 1 decimal place. Then, starting with quarter 1 of year 2, use these rounded forecast values to compute the error and absolute error answers. Enter those answers to 1 decimal place also.) Year Quarter Demand 4-quarter Moving Average Error Absolute Value Error Year 1 Q1 15 Q2 19 Q3 20 Q4 18 Year 2 Q1 20 Q2 17 Q3 19 Q4 20 Year 3 Q1 20 Q2 26 Q3 30 Q4 34 Year 4 Q1 35 Q2 35 Q3 38 Q4 40 Year 5 Q1 42 Q2 41 Q3 53 Q4 52 Year 6 Q1 65 Q2 59 Q3 56 Q4 61 Year 7 Q1 63 Q2 63 Q3 64 Q4 69 Year 8 Q1 66 Q2 74 Q3 70 Q4 71 MFE MAD b. Using the same data, forecast demand using exponential smoothing. You are given an initial forecast for year 1, quarter 1 of 17. When generating your forecasts, assume that the smoothing coefficient is 0.10. (Leave no cells blank - be certain to enter "O" wherever required. Negative answers should be indicated by a minus sign. Round your forecast answers to 1 decimal place. Then, starting with quarter 1 of year 2, use these rounded forecast values to compute the error and absolute error answers. Enter those answers to 1 decimal place also.) Year Quarter Demand Exponential Smoothing Error Absolute Value Error Year 1 Q1 15 Q2 19 Q3 20 Q4 18 Year 2 Q1 20 02 17 Q3 19 Q4 20 Year 3 Q1 20 Q2 26 Q3 30 Q4 34 Year 4 Q1 35 Q2 35 Q3 38 04 40 Year 5 Q1 42 02 41 Q3 53 Q4 52 Year 6 Q1 65 Q2 59 Q3 56 Q4 61 Year 7 Q1 63 Q2 63 Q3 64 Q4 69 Year 8 Q1 66 Q2 74 Q3 70 Q4 71 MFE MAD c. Which of the forecasting procedures performed the best with respect to MAD? O 4-quarter Moving Average O Exponential smoothing