Consider the following statements:
Exponential smoothing
1. is a modification of moving average method
2. is a weighted average of past observations
3. assigns the highest weightage to the most recent observation
Which of the statements given above are correct?
(a) 1, 2 and 3 (b) 1 and 2 only
(c) 2 and 3 only (d) 1 and 3 only