Question: Now the MSE will be computed for the exponential smoothing forecast using =0.4. Forecasts will be made using the following formula and variables. Ft+1Ft+1YtFt=Yt+(1)Ftwhere=forecastofthetimeseriesforperiodt+1=actualvalueofthetimeseriesinperiodt=forecastofthetimeseriesforperiodt=smoothingconstant(01) computed.

Now the MSE will be computed for the exponential

Now the MSE will be computed for the exponential smoothing forecast using =0.4. Forecasts will be made using the following formula and variables. Ft+1Ft+1YtFt=Yt+(1)Ftwhere=forecastofthetimeseriesforperiodt+1=actualvalueofthetimeseriesinperiodt=forecastofthetimeseriesforperiodt=smoothingconstant(01) computed. The forecast for month 2 will be the observed value from month 1 . The forecast for month 3 is calculated as follows. F3=aY2+(1a)F2=0.4(72)+(10.4)70=70.8000 The given data are in the table below. Find the forecasts for the remaining months, rounding the results to four decimal places

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