MediSurge is a pharmaceutical company in Europe that designs and manufactures diagnostic and surgical devices. Because the devices are proprietary, MediSurge produces the devices in- house at their manufacturing facility in Europe. As such, the company has to comply with European environmental regulations on carbon emissions. For each kilogram of carbon emission (or any fraction thereof) it generates in the manufacture of medical devices, MediSurge has to procure an equivalent amount of emission permit. For example, if MediSurge emits 520.6kg of CO; in the month of May, then it has to make sure it has procured 520.615; of emission permits. MediSurge's procurement department purchases emission permits one month ahead of actual emissions in order to obtain better prices. Any deviation between the procured permits and the actual emissions will have to be offset at the spot market at a considerable loss to the company. It is hence important for the procurement department to forecast next month's emission requirements with as little error as possible. The emissions for the past ve months are recorded in the table below. ml-IIB- 648.00 420.00 661.50 632.50 403.50 Required: :1. Use the exponential smoothing method with an initial forecast of 540.00 kg for the month of March and a smoothing parameter of a = 0.2, calculate the emission forecast for June (to two decimal points). (4 marks) b. The manager of the procurement department decided to probe further and found past data on not only emissions, but also the monthly production (in number of medical devices) as well the amount of emissions per device (kg C02 per device). These data are tabulated below. Perform exponential smoothing separately on each quantity below using the same parameter a = 0.2 each time. Use initial forecasts of 1200 for March production and 0.45 for March per-miit emissions. Find the production and per-unit emission forecasts for June. Then, take the product of these two forecasts to nd the forecast for total emission. (Note: production forecasts must be rounded to the nearest integer while per-unit emission forecast must be rounded to four decimal places). (6 marks) EE- IE_ 1350 1150 \"mm c. Compare (a) and (b) by qualitatively discussing the merits and limitations of each method. Limit your answer to at most two sentences