For a product the demand data has been shown in the table below for the year. Compare the forecasts using a moving average forecasting method with a period of 5 months and an Exponential Smoothing Method with an of 1/3. For Exponential Smoothing use the midpoint of first 5-month range of the average as the initial forecast. (Updated Hint: the Exponential Smoothing Forecast therefore in March 2013 for April 2013 will be 4951). Which method is better? Why?

Month, t	Demand, x(t)
Jan	4576
Feb	5568
Mar	3240
Apr	5978
May	5395
Jun	4644
Jul	5880
Aug	6096
Sep	5967
Oct	5828
Nov	5808
Dec	6076