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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