Actual demand values $($in $$1,000)$ for the last three months are provided as follows:

May June July

Demand $($$$1,000)91012$

What is the forecast value $($model generated value$)$ for August using exponential smoothing method with alpha $=0\mathrm{.}4?$ Start your calculation by assuming the forecast value for the month of May is the same as the actual value for May. Show all the work.