Time-series forecasting models are helpful when historical data exists. Toby, a local restaurant owner, is considering using them to forecast monthly demand but is still determining which one to use. He wants to use the one that has the highest responsiveness to change. Which one would be best?
1) Weighted moving average (n=3)
2) Naive method
3) Exponential smoothing (alpha=0.5)
4) Moving average (n=3)