Question: 1. Consider the following data: 1 14 2 13 3 14 4 15 5 14 Dt 6 16 Use basic (single) exponential smoothing with alpha

1. Consider the following data: 1 14 2 13 3 14 4

1. Consider the following data: 1 14 2 13 3 14 4 15 5 14 Dt 6 16 Use basic (single) exponential smoothing with alpha of 0.25 to predict periods 7 and 8. Do this two different ways: (a) assuming the first forecast is equal to the first data point, (b) assuming the first forecast is equal to the average of all six data points. Comment on the difference in your answers to (a) and (b)

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