The following time series shows the sales of a particular product over the past 12 months:

a. Construct a time series plot. What type of pattern exists in the data?
b. Use α = 0.3 to compute the exponential smoothing values for the time series.
c. Use Excel Solver or LINGO to find the value of a that minimizes MSE. (Hint: Minimize the sum of squarederror.)

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