Problem $3-10($Algo$)$

The number of cases of merlot wine sold by the Connor Owen winery in an eight$-$year period is as follows:

$\backslash$table$[[$YEAR$,\backslash$table$[[$CASES OF$],[$MERLOT WINE$]]],[1,295],[2,381],[3,423],[4,481],[5,383],[6,525],[7,435],[8,401]]$

Using an exponential smoothing model with an alpha value of $0\mathrm{.}30,$ estimate the smoothed value calculated as of the end of $8.$ Use the average demand for years $1$ through $3$ as your initial forecast for year $4,$ and then smooth the forecast forward to year $8.$

Note: Round your intermediate calculations and final answer to the nearest whole number answers needs to be in percent