Develop a forecast by applying the Exponential Smoothing Technique if the actual data are given at each period. As expected, you need to set the value of to estimate the value of the new forecast if you want to apply this technique. Please find out the value of by using the EXCEL solver to minimize the forecast error. Lets consider an MSE (i.e., Mean of Squared Errors) as a measure for forecast accuracy.

1 ? ? Table 2: Actual sales performance for the past ten periods Period Actual Forecast 70 N/A 2 68 3 66 4 58 5 66 6 74 7 78 8 64 9 57 10 60 ? ? A. ? ? Hint) Please apply the "Nave forecasting" when you make a forecast for the second period by setting it as an actual value in the first period. Q-1) Which value of B is finally derived? Q-2) What is the value of MSE for those periods? Q-3) Please plot both actual data and forecast value on the same graph