Below you are given the first two values of a time series. You are also given the first two values of the exponential smoothing forecast. Exponential Smoothing Time Period (t) Time-Series Value (Yt) 1 18 2 22 Forecast (Ft) 18 18 If the smoothing constant equals.3, then the exponential smoothing forecast for time period three is 18 19.2 20 40 A value chain analysis provides an analytical framework for an organization to examine individual activities and determine the value added at each stage. The principles can also be applied to an organization's external value stream analysis which considers how the whole production and delivery process can be made more efficient. The activities can be categorized into those: Those required for product development or production systems Those that do not add value All of the below That create value as perceived by the customer