Part 2: Using exponential smoothing, the forecasted demand for period 5 using the smoothing constant determined above = ?

The first forecast, F1, was derived by observing A1 and setting F1 equal to A1. Subsequent forecasts were derived by exponential smoothing. The smoothing constant () used to derive the subsequent forecasts = (round your response to two decimal places). (Hint: To determine , use either the relationship for period 3 or 4.)