QUESTION 3 The following data represent a set of demands that have occurred over the last several years at soap- making company. The data have been collected on an annual basis. Year 1 2 3 4 5 6 7 Actual demand (At) 310 365 395 415 450 465 Forecast (Ft) Use a. the simple average method b. the simple moving average method to predict the demand for the 7th year. QUESTION 4 A private school charges $60,000 per student per term. Variable cost is $5,000 per student. And the fixed cost for the year is $6,000,000. If the school currently has 1,500 students and there are three terms in a school year a) Write the formula for the total revenue 2 Marks b) Write the formula for the total cost 2 Marks c) How many students does the school need to break even? 4 Marks