Question: Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 302 8 267 9

Consider the following time series data.

Year Value
1 234
2 287
3 255
4 310
5 298
6 250
7 302
8 267
9 225
10 336

a. Use= 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for year 11. b. Use trial and error to find a value of the exponential smoothing coefficient (rounded to 2 decimal places)that results in a smaller MSE than what you calculated for= 0.2. c. Compute the forecast for year 11 using the smoothing coefficientselected using trial error.

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