Apply an exponential smoothing forecast model, compute the root mean squared error of the forecasts for 1960 2015 Between the options below, which value of the smoothing parameter alpha achieves the lowest root mean squared error Please note that for this kind of forecasting model you will need to generate forecasts starting in 1950, i e , just because we don't start evaluating forecast accuracy until 1960, doesn't mean we ignore the earlier data Group of answer choices 0 1 0 3 0 5 0 7 0 9 1949 28 748176 1950 32 562667 1951 35 792151 1952 34 976732 1953 35 349336 1954 33 76433 1955 37 36368 1956 39 771452 1957 40 133484 1958 37 216322 1959 39 045216 1960 39 869117 1961 40 307136 1962 41 731885 1963 44 037181 1964 45 788951 1965 47 234902 1966 50 035367 1967 52 597132 1968 54 306187 1969 56 285569 1970 59 186071 1971 58 04156 1972 58 937904 1973 58 241491 1974 56 330758 1975 54 733273 1976 54 722896 1977 55 100782 1978 55 074118 1979 58 005609 1980 59 007873 1981 58 529329 1982 57 457822 1983 54 415961 1984 58 849156 1985 57 538724 1986 56 575231 1987 57 166745 1988 57 874997 1989 57 482679 1990 58 559602 1991 57 871727 1992 57 655057 1993 55 822082 1994 58 043638 1995 57 540135 1996 58 387225 1997 58 856691 1998 59 314083 1999 57 614481 2000 57 366024 2001 58 541348 2002 56 833673 2003 56 032784 2004 55 942348 2005 55 044002 2006 55 937854 2007 56 435649 2008 57 587014 2009 56 670274 2010 58 206642 2011 60 549593 2012 62 302799 2013 64 201461 2014 69 652611 2015 70 220845

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Question: Apply an exponential smoothing forecast model, compute the root mean squared error of the forecasts for 1960-2015 . Between the options below, which value of

Apply an exponential smoothing forecast model, compute the root mean squared error of the forecasts for 1960-2015. Between the options below, which value of the smoothing parameter alpha achieves the lowest root mean squared error?

*Please note that for this kind of forecasting model you will need to generate forecasts starting in 1950, i.e., just because we don't start evaluating forecast accuracy until 1960, doesn't mean we ignore the earlier data.

Group of answer choices

0.1

0.3

0.5

0.7

0.9

1949	28.748176
1950	32.562667
1951	35.792151
1952	34.976732
1953	35.349336
1954	33.76433
1955	37.36368
1956	39.771452
1957	40.133484
1958	37.216322
1959	39.045216
1960	39.869117
1961	40.307136
1962	41.731885
1963	44.037181
1964	45.788951
1965	47.234902
1966	50.035367
1967	52.597132
1968	54.306187
1969	56.285569
1970	59.186071
1971	58.04156
1972	58.937904
1973	58.241491
1974	56.330758
1975	54.733273
1976	54.722896
1977	55.100782
1978	55.074118
1979	58.005609
1980	59.007873
1981	58.529329
1982	57.457822
1983	54.415961
1984	58.849156
1985	57.538724
1986	56.575231
1987	57.166745
1988	57.874997
1989	57.482679
1990	58.559602
1991	57.871727
1992	57.655057
1993	55.822082
1994	58.043638
1995	57.540135
1996	58.387225
1997	58.856691
1998	59.314083
1999	57.614481
2000	57.366024
2001	58.541348
2002	56.833673
2003	56.032784
2004	55.942348
2005	55.044002
2006	55.937854
2007	56.435649
2008	57.587014
2009	56.670274
2010	58.206642
2011	60.549593
2012	62.302799
2013	64.201461
2014	69.652611
2015	70.220845

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