Owner of a chocolate store wants to forecast chocolate demand. The demand for the preceding four years is shown in the following table: Year 1 2 3 4 Demand (lbs) 68,800 71,000 75,000 71,000 Forecast demand for year 5 using the following approaches: (1) a 3- year moving average; (2) a 3-year weighted moving average using 0.40 for year 4, 0.20 for year 3, and 0.40 for year 2; and (3) exponential smoothing with a = 0.30, and assuming the forecast for period 1 = 68,000