The choice of the smoothing constants, and , has a considerable effect on the accuracy of the forecasts obtained by using exponential smoothing with...

The choice of the smoothing constants, α and β, has a considerable effect on the accuracy of the forecasts obtained by using exponential smoothing with trend. For each of the following time series, set α = 0.2 and then compare MAD obtained with β = 0.1, 0.2, 0.3, 0.4, and 0.5. Begin with initial estimates of 50 for the average value and 2 for the trend. a. 52, 55, 55, 58, 59, 63, 64, 66, 67, 72, 73, 74 b. 52, 55, 59, 61, 66, 69, 71, 72, 73, 74, 73, 74 c. 52, 53, 51, 50, 48, 47, 49, 52, 57, 62, 69, 74 Step 1) Change the Beta Value and create a graph for each of the 5 given Beta values in each of the 3 databases. You could also create one graph per tab with 5 separate lines. The graphs is already part of the spreadsheet, you need to create the lines for the Beta values. There is no need to create additional tabs in the spreadsheet. Step 2) Briefly describe the impact of the Beta value on the 3 databases. You should submit a written paragraph with explanation either in a separate Tab in the Excel Template for a separate word document. No references needed.