Consider the following actual $($Upper A Subscript t$)$ and forecast $($Upper F Subscript t$)$ demand levels for a product.

$$

Time Period

t

Actual Demand

Upper A Subscript t

Forecast Demand

Upper F Subscript t

$1$

$60\mathrm{.}0$

$60\mathrm{.}00$

$2$

$48\mathrm{.}0$

$60\mathrm{.}00$

$3$

$60\mathrm{.}0$

$57\mathrm{.}60$

$4$

$47\mathrm{.}0$

$58\mathrm{.}08$

$5$

minus

$?$

The first$$ forecast, Upper F $1,$ was derived by observing Upper A $1$ and setting Upper F $1$ equal to Upper A $1.$ Subsequent forecasts were derived by exponential smoothing.

Part $2$

The smoothing constantLOADING... $($alpha$)$ used to derive the subsequent forecastsequals

$$

enter your response here. $($Round your response to two decimal$$ places.$)($Hint: To determine alpha$,$ use either the relationship for period $3$ or$4.)$

Part $3$

Using exponential smoothingLOADING...$,$ the forecasted demand for period $5$ using the smoothing constant determined aboveequals

$$

enter your response here. $($Round your response to one decimal$$ place.$)$