(Solved): Please help me answer this question: Question 2. (Total 30 points) a) What advantages do exponential ...

Question 2. (Total 30 points) a) What advantages do exponential smoothing have over moving average? How does the number of periods in a moving average affect the responsiveness of the forecast? How does the size of the smoothing constant in exponential smoothing affect the responsiveness of the forecast? ( 5 points) There's a new band in town, Cool Spring, and they want to determine a forecasting method to help them estimate revenue. To date they have generated the following revenue: b) Calculate forecasts for September - January using linear-trend and doubleexponential smoothing methods. Use an $?=0.25$ and $?=0.5$ (start with initial estimates ${\mathrm{S}}_{\text{sept }}=\$300,{\mathrm{T}}_{\text{Sept }}=\$20)$. (15 points $)$ c) Calculate MAPE for September - January for each method and indicate which method provides the better forecasts; state any necessary assumptions. Explain. (8 points) d) Forecast revenue for February and March based on your preferred method. State any necessary assumptions. ( 2 points)