Question 2 Historical demand for Peeps is as displayed in the table. Develop forecasts from June through October using these techniques: moving average of two period, simple exponential smoothing with an alpha of 0.8 , and Holt's method with alpha =0.2 and beta =0.1. For the exponential smoothing model assume that the forecast for May is the actual demand for May. For Holt's model, the level and trend for May are assumed to be 44 and 12. Judge which forecast method is the best based on MAD. Question 3 Two independent sets of forecasts based on judgement and experience have been prepared each month for the past 10 months. Draw the control chart (2s control limits) and judge each forecasting process is in control or not. Question 4 The manager of a large electronics store wants to begin stocking a universal TV remote control device. Expected daily demand is 25 units ( 250 working days a year). The remote controls can be purchased from either supplier A or supplier B. Their price lists are as follows: Ordering cost is $40 per order and annual holding cost is 25 percent of unit price. Lead time for either supplier is 10 days. Which supplier should be chosen and what kind of inventory ordering policy should be adopted