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Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years: Product Forecasting Information Throx uses two main

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Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years: Product Forecasting Information Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. The table below provides forecast calculations for FY2017 through FY2020, along with actual demand experienced in each of those years. Weighted Moving Average uses Wt=0.6,Wt1=0.2,Wt2=0.2 Exponential Smoothing uses =0.9 and 1=0.1 1) Using the Product Forecasting Information that has been provided from FY2019 through FY2022 (four years), calculate the measures of forecast accuracy (MFE, MAD, and MAPE) for the Weighted Moving Average (MA) and the Exponential Smoothing (EXP) approaches to forecasting. a) What are the values of MFE, MAD, and MAPE for each of these two approaches to forecasting (MA and EXP)? Which of the approaches is more accurate? b) Do these forecasts seem adequate for the purposes of decision making? Why or why not

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