Following are time series data for eight different periods Use exponential smoothing to forecast the values for periods 3 through 8 Use the value for the first period as the forecast for the second period Compute forecasts using two different values of alpha, Icirc plusmn 1 and Icirc plusmn 8 Compute the errors for each forecast and compare the errors produced by using the two different exponential smoothingconstants Time PeriodValue Time Period Value 211 228 236 241 242 227 217 203 4

Question: Following are time-series data for eight different periods. Use exponential smoothing to forecast the values for periods 3 through 8.Use the value for the first

Following are time-series data for eight different periods. Use exponential smoothing to forecast the values for periods 3 through 8.Use the value for the first period as the forecast for the second period. Compute forecasts using two different values of alpha, Î± = .1 and Î± = .8. Compute the errors for each forecast and compare the errors produced by using the two different exponential smoothingconstants.

Time PeriodValue Time Period Value 211 228 236 241 242 227 217 203 4

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