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