A historical demand (observation) of paper sales in cases is: January, 45; February, 40; March, 35; April, 50; and May, 55.
Suppose that the forecast (not observation) for January was 65. Using single exponential smoothing with an alpha = 0.25, compute the exponential smoothing forecast for February through June.
Show all your work. (Hint: show your work using at least one decimal point)