Solve the below:
Q: Following are time-series data for eight different periods. Use exponential smoothing to forecast the values for periods 3 through 8. Use the value for the first period as the forecast for the second period. Compute forecasts using two different values of alpha α=0.1 and 0.8 and Compute the errors for each forecast and compare the errors produced by using the two different exponential smoothing constants.
Time Period Value Time Period Value
1 211 5 242
2 228 6 227
3 236 7 217
4 241 8 203