Task 1: Demand Forecasting for SolarPower Description: Demand for 40W 12V monocrystalline solar panels at SolarPower from its Australian and the New Zealand markets for the last 12 months are as follows: Month Jan Demand 7,530 Feb 7,590 Mar 7,580 Apr 7,530 May 7,460 Jun 7,440 Jul 7,490 Aug 7,470 Sep 7,510 Oct 7,490 Nov 7,480 Dec 7,520 Quantitative Questions: a) Estimate demand for the next three using a 3-month moving average, simple exponential smoothing with a = 0.1, and Holt's model to estimate the demand with a 0.1 and = 0.2. (6 marks) b) Evaluate the MAD, MAPE, bias, and TS (i.e., the KPIs) in each case. Which of the three methods is better? Why? (3 marks) c) What should the values of a and in the Holt's model be to minimise the MAD? (1 mark) Qualitative Question: d) Conduct your own research and find out what the solar panel manufacturing industry usually does in forecasting demand. You may wish to discuss the topic based on product value, product volume, and product flow as different product characteristics may require different methods to forecast the demand accurately. Give examples to support your arguments