3. Given the following data: Prepare a forecast using smoothing constant a = 0.40. a) Subjective estimate (for this example, use 60). b) First actual value (nave approach). Period 1 2 3 4 Actual 63 52 56 62 Week 1 3 4 5 Forecast 4. Given the following data: c) What are the exponential smoothing forecasts for periods 2-5 using a =0.7? d) Use nave approach for 1st week Calculations Demands 830 765 630 640