The table below summarizes the demands of a product in the past three months. Week Actual Demand 1 50 2 55 3 62 4 64 (a) Determine the simple...

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(a) Determine the simple 3-period moving average forecast for Week 5. For full credit, please provide at least one step of calculation and the correct forecast. (4 points)

(b) Determine the weighted 3-period moving average forecast for Week 5 with weights of 0.6, 0.3, and 0.1. The weight of 0.6 is to be attached to the most recent demand and 0.3 to the second most recent demand. For full credit, please provide at least one step of calculation and the correct forecast. (4 points)