Please provide a detailed answer using SimpleExponentialForecasting showing all steps involved, formulas, and all parts of the question solved without using CHATGPT For a given time series of sales, the training set consists of 50 months The first five months'data isshowninthe followingtable Month Sales SimpleExponential Error October19 27 November19 31 December19 58 January20 63 February 20 59 A) Computethesalesforecast forJanuary20andFebruary 20basedona simpleexponential method with w 4 Provide your answers in the table above and show calculations B) Compute theforecast errorfortheabove forecast Provideyouranswers inthetable SimpleExponentialForecastingattime t 1 F t 1 A t (1 ) F t

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Question: Please provide a detailed answer using SimpleExponentialForecasting showing all steps involved, formulas, and all parts of the question solved without using CHATGPT. For a given

Please provide a detailed answer using SimpleExponentialForecasting showing all steps involved, formulas, and all parts of the question solved without using CHATGPT.

For a given time series of sales, the training set consists of 50 months. The first five months'data isshowninthe followingtable:

Month	Sales	SimpleExponential	Error
October19	27
November19	31
December19	58
January20	63
February 20	59

A) Computethesalesforecast forJanuary20andFebruary 20basedona simpleexponential method with w= 4. Provide your answers in the table above and show calculations.

B) Compute theforecast errorfortheabove forecast.Provideyouranswers inthetable.

SimpleExponentialForecastingattimet+1:

F_t+1= A_t₊(1- ) F_t

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