Q1. (3 marks) Using the demand data supplied in the below table, please calculate the following from your company's forecasting perspective. Please use Excel to calculate your forecasting answers, so behind the cells in Excel, there has to be formulas for answering the below questions. Your company wants to forecast the demand for their product, based on the data below a) b) c) Calculate the simple four-week moving average for weeks 5 through 12 Calculate the weighted three-week moving average using weights of 0.40, 0.40, and 0.20 for weeks 4 through 12 Calculate the exponential smoothing forecast for weeks 2 through 12 using an initial forecast of 4400 units and an alpha of 0.30 Calculate the exponential smoothing forecast plus trend for week2 through 12 using an alpha of 0.10, delta of 0.20, a previous forecast including trend of 4600 units, a previous trend of 120 units Calculate the MAD and MAPE for all four of the forecasting models. Which forecast method do you recommend and why? d) e) Week Demand 4500 4750 5400 5800 6250 6500 7500 8200 8500 8800 12 Q2. (2 marks) Your company are producing their New Product. In order to produce their New Product they have 4 1500 New Products per year. The demand for the New Product for the next three years is given in the table below: 2020 machines (2 operators per machine) and they currently have 8 operators/staff. Each machine has a capacity of producing Year New Product 2019 5500 2021 4500 5000 a) b) c) Calculate the capacity utilization for 2019 and 2020 Calculate the machine and labor requirements for 2019 and 2020 As demand is decreasing, your company is thinking of selling one of the machines for the New Product and moving 1 operator to another, more profitable department. Check whether after this action (selling one machine and moving 1 operator to another department), the company has enough capacity to handle the demand for 2021. Please show the calculations and formulate your arguments in words afterwards