<p>HW Forecasting Name: </p><p>The following is the monthly patronage figure captured from MTR Corporation Website.</p><p>#1 Please use Weighted Moving Average Approach to forecast the MTR Lines monthly total of patronage of April, 2011. The weighted factors from Mar – Sept 2010 are 0.3 (most recent), 0.2, 0.1, 0.1, 0.1, 0.1, 0.1 respectively.</p><p>#2 Please use simple exponential smoothing approach to forecast the Airport Express monthly total of patronage of April, 2011. Use α = 0.2, and let the initial forecast of Sept, 2010 is equal to the actual value.</p><p>#Extra Credit Why simple exponential smoothing is called "exponential"? (Hint: Derive the simple exponential smoothing formula further)</p>