Question 2:An Electronic Company estimates the annual demand for a certain product as follows:Week 1 2 3 4 5 6Demand 649 524 561 738 515 598a. Forecast the demand for week 7 using a five-period moving average? (Marks 1.5) (word count maximum:100)b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1 = .4, W2 = .4, W3 = .2 (Marks 1.5) (word count maximum:100)c. Forecast the demand for week 7 using exponential smoothing. Use ? value of .1 and assume the forecast for week 6 was 602 units? (Marks 1.5) (word count maximum:100)d. What assumptions are made in each of the above forecasts? (Marks 0.5) (word count maximum:150)
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