Day Temperature
1 82
2 80
3 84
4 83
5 80
6 79
7 82
a. Produce exponential smoothing forecasts for the series using a smoothing constant of .2.
b. Compute the mean square error for the forecasts produced with a smoothing constant of .2.
c. What is the forecasted temperature for day 8?
d. Is a smoothing constant of .2 or .3 better for the temperature data? Explain.