For the data below, based on an exponential smoothing forecasting method,calculate the following:

Year Quarter Sales

1 1 384

2 324

3 322

4 300

2 1 343

2 382

3 386

4 380

3 1 318

2 312

3 392

4 310

4 1 353

2 353

3 387

4 303

5 1 311

2 383

3 326

4 333

1) What is the value for the smoothing constant(TO 1 DECIMAL PLACE)that minimizes MSE?

BASED ON THE VALUE FOR THE SMOOTHING CONSTANT(TO 1 DECIMAL PLACE)THAT MINIMIZES MSE ANSWER THE REMAINING QUESTIONS.

2) Calculate the mean absolute error.ANSWER TO 2 DECIMAL PLACES

3) Calculate the mean square error.ANSWER TO 2 DECIMAL PLACES

4) Calculate the absolute percentage error.ANSWER AS A PERCENT TO 2 DECIMAL PLACES...INCLUDE UNITS (I.E. THE PERCENT SIGN)

5) Predict the the number of sales for the first quarter of year 6.ANSWER TO 0 DECIMAL PLACES