Question: Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those
Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the exponential smoothing method to forecast the number of sales to expect next month. Use the following value of alpha: 0.2.
| Month | Demand | Forecast |
| 1 | 308 | 349.2 |
| 2 | 388 | 340.9 |
| 3 | 344 | 350.3 |
| 4 | 400 | 349.1 |
| 5 | 341 | 359.3 |
Part 2
Below is a table containing data on product demand for the most recent three months along with the forecasts that had been made for those three previous months. Calculate the MSE.
| Month | Demand | Forecast |
| 1 | 308 | 310 |
| 2 | 388 | 390 |
| 3 | 344 | 342 |
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