Exponential Smoothing Forecast

7. Given the historical data in table below, use exponential smoothing method (with smoothing constant 0.2) to answer the questions below. (a) What is forecast for period 5 and 6? (4 points each = 8 points) (b) If a change is made in smoothing constant from 0.2 to 0.5, what impact would that have on the forecast generated by this model over time? (No calculation needed, just explain) (5 points) Observations 86 Period 1 2 3 4 93 88 92