Sean is making demand forecasts using the exponential smoothing method. To find a proper smoothing factor $\backslash$alpha $,$ he examines the demand over the past three days $($Day $1$ to Day $3),$ which are $41,43,41.$ He wants to choose a weight $\backslash$alpha $,$ which has the smallest mean squared error for the demand forecasts from Day $1$ to Day $3,$ given that the demand forecast on Day $1$ is $40.$ Which of the following weights should he con

Hint $1$: You need to calculate the forecasted demand on Days $2$ and $3$ in each of the scenarios, then calculate the mean squared error based on different $.$

Hint $2$: The demand forecast on Day $1$ is $40,$ resulting in the forecast error $=4041=-1.$

$=0\mathrm{.}2$

$=0\mathrm{.}4$

$=0\mathrm{.}6$

$=0\mathrm{.}8$