Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 4 6 1 2 3 4 5 4 5 6 18. |17: 16:1.15: 1.14. 1. 13.1. 12:1:11:1:10:1191118111711.6.1.5. 7 8 10 8 7 9 12 14 15 9 10 11 a) Develop a 3-year moving average to forecast demand. b) Forecast demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. 1.6.1.5.1.4.1.3:1121111111111112 c) Develop a trend line for the demand for fertilizer using any computer software. d) For these three forecasts, 3-year moving average, a weighted moving average, and a trend line, which one would you use? Explain your answer. e) Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure. Would you prefer to use the exponential smoothing model, or the weighted average model developed? Explain your answer. Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 4 6 1 2 3 4 5 4 5 6 18. |17: 16:1.15: 1.14. 1. 13.1. 12:1:11:1:10:1191118111711.6.1.5. 7 8 10 8 7 9 12 14 15 9 10 11 a) Develop a 3-year moving average to forecast demand. b) Forecast demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. 1.6.1.5.1.4.1.3:1121111111111112 c) Develop a trend line for the demand for fertilizer using any computer software. d) For these three forecasts, 3-year moving average, a weighted moving average, and a trend line, which one would you use? Explain your answer. e) Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure. Would you prefer to use the exponential smoothing model, or the weighted average model developed? Explain your