please be detailed with the answers and show formulas that are used and break down each step.

Tines for You, Inc. (TPV, founded in 1987, is an automotive repair shop specializing in replacement tires Located in Alton, PA TY has grown successfully over the past few year because of the addition of new general manager, tan Overbaugh. Since tire replacement is a major portion of THY's business to performs al changes wall mechanical repair, ten was surprised at the lack of forecasts fortire consumption for the company. Is senior mechanic, Skip Grenoble, told him that they usually stocked for this year what they sold last year. He readily admitted that several times throughout the season stockouts occurred, and customers had to go elsewhere fortines Although many tire replacements were for defective or destroyed tires, most tires were installed on can who original tires had wom out. Most often four tires were installed at the same time, an was determined to get a better idea of how many tres to hold in stock during the various months of the year. Listed below is a summary of individual tine sales by month TIRES USED 9.792 11.11 1067 PERIOD 2018 October November December 2019 January February March April May June 9,724 3.786 9,254 10.691 9.256 8,700 10.192 10751 9.724 10,193 11.5 11.10 August September October November December an has hired you to determine the best technique for forecasting Tydemand based on the green data Corte Questions 1. Calculate a forecast using a simple three month moving average 2. Calculate a forecast using a three period weighted moving average. Use weights of 0.60.0.30, and 0 10 for the most recent period, the second most recent period, and the third most recent period, respectively 1. Calculate the forecasting the exponential smoothing method. Assume the forecast for period is 9.500 Use alpha 0.40 4. Once you have calculated the forecasts based on the above data determine the error terms by comparing them to the actual sales for 2020 en below TIRES USED PERIOD 2010 January February March Art May une ly August September October November December 10.6% 9,665 10.179 11.760 9.30 9.521 8375 11.826 10.6 11212 3.750 9.10 5 Based on the three methods used to calculate a forecast for TFY, which method produced the best forecast? Why? What measures or forecast error did you use? How would you improve the forecast? Tines for You, Inc. (TPV, founded in 1987, is an automotive repair shop specializing in replacement tires Located in Alton, PA TY has grown successfully over the past few year because of the addition of new general manager, tan Overbaugh. Since tire replacement is a major portion of THY's business to performs al changes wall mechanical repair, ten was surprised at the lack of forecasts fortire consumption for the company. Is senior mechanic, Skip Grenoble, told him that they usually stocked for this year what they sold last year. He readily admitted that several times throughout the season stockouts occurred, and customers had to go elsewhere fortines Although many tire replacements were for defective or destroyed tires, most tires were installed on can who original tires had wom out. Most often four tires were installed at the same time, an was determined to get a better idea of how many tres to hold in stock during the various months of the year. Listed below is a summary of individual tine sales by month TIRES USED 9.792 11.11 1067 PERIOD 2018 October November December 2019 January February March April May June 9,724 3.786 9,254 10.691 9.256 8,700 10.192 10751 9.724 10,193 11.5 11.10 August September October November December an has hired you to determine the best technique for forecasting Tydemand based on the green data Corte Questions 1. Calculate a forecast using a simple three month moving average 2. Calculate a forecast using a three period weighted moving average. Use weights of 0.60.0.30, and 0 10 for the most recent period, the second most recent period, and the third most recent period, respectively 1. Calculate the forecasting the exponential smoothing method. Assume the forecast for period is 9.500 Use alpha 0.40 4. Once you have calculated the forecasts based on the above data determine the error terms by comparing them to the actual sales for 2020 en below TIRES USED PERIOD 2010 January February March Art May une ly August September October November December 10.6% 9,665 10.179 11.760 9.30 9.521 8375 11.826 10.6 11212 3.750 9.10 5 Based on the three methods used to calculate a forecast for TFY, which method produced the best forecast? Why? What measures or forecast error did you use? How would you improve the forecast