Part B (12 marks) Hint-Week 4 Chapter 9: see #36 and #37 (Excel) & Q16 (discussion) Year Forecast Actual Requirement I 15010 17090 2 22045 22930 3 20580 19210 4 25620 24100 5 25070 23800 6 26090 21010 7 27030 22530 8 280101 17960 9 28005 17995 10 29333 19021 11 In the above data table, the operations manager of DBS Manufacturing Company has provided you historical data on their annual requirement of the special component over the past ten years. Page 3 of 6 T2 2022 (4) What is the forecast requirement for next (i.e., eleventh) year using a two-year and three-year simple moving average? Compute the MSE for each of those two moving averages and compare your results. (4 marks) (5) Using the same data table, find the best single exponential smoothing model by evaluating the MSE, starting with an alpha of 0.10 and changing alpha in increments of 0.10. How does the best single exponential smoothing model compare with the best moving average model you found in (4)? (4 marks) (6) If the DBS operations manager asked for your advice as to whether it is better to use regression- based forecasting models or time-series forecasting models, what would your advice be and why? (4 marks)