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Question 3 The demand for printers at Courts store in Bukit Timah is indicated below: Table 2: Demand for Printers Week Number of Printers 1 65 70 54 4 69 5 59 6 70 67 Linear regression and exponential smoothing methods were applied to forecast the future demands for the printers. The summary output of the regression analysis is shown in Table 3. Table 3: Regression Table SUMMARY OUTPUT Regression Statistics Multiple P 0.138018544 R Square 0.019049118 Adjusted R Square -0.177141058 Standard Error 6.67136739 Observations ANOVA MS F Significance F Regression 4 321428571 4.321429 0.097095 0.767917728 Residual 222.5357143 44.50714 Tota 225.8571479 Coefficients Standard Error [ Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.05 Intercept 63.28571429 5 638334535 11.22419 9.86-05 48.79191395 77.77951462 48.79191395 77.77951462 X Variable 1 0.392857143 1.26076993 0.311601 0.767918 -2.848055138 3.633769424 -2.848055138 3.633769424 (a) Determine the demand forecast from week 2 to week 8 using exponential smoothing and linear regression. The alpha value and the forecast value of the first week are assumed to be is 0.2 and 65 units, respectively. (8 marks) (b) Which forecasting method is better based on the Mean Squared Error (MSE)? Examine whether the linear regression model used for this problem is a good fit or not. (10 marks)(C) On average, there are 20 units of printers in stock per month, and each unit is sold at $80. Generally, the store can sell 15 units per week. What is the inventory turnover per month? The manager of the store thinks that if the inventory turnover is larger than 2, it is good. Do you agree? Provide your reasons. (7 marks)