Question: Don't use Excel please Problem 2) Develop a forecast by applying the Exponential Smoothing Technique if the actual data are given at each period. As

Don't use Excel please
Don't use Excel please Problem 2) Develop a
Problem 2) Develop a forecast by applying the Exponential Smoothing Technique if the actual data are given at each period. As expected, we should set the value of to estimate the value of the new forecast if we like to apply this technique. Please find out the value of by using the EXCEL solver to minimize the forecast error. Let's consider an MSE (i.e., Mean of Squared Errors) as a measure for forecast accuracy. Table 2: Actual sales performance for the past 10 periods Period Actual Forecast 1 70 N/A 2 68 ? 3 66 ? 4 58 5 66 6 7 78 ? 8 64 ? 9 57 ? 10 60 ? 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 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. 74

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