Consider the following actual $(A_t)$ and forecast $(F_t)$ demand levels for a commercial multiline telephone at Office Max:

The first forecast, $F_1,$ was derived by observing $A_1$ and setting $F_1$ equal to $A_1.$ Subsequent forecasts were derived

by exponential smoothing.

The smoothing constant $()$ used to derive the subsequent forecasts $=\mathrm{.}3($round your response to two decimal

places$).($Hint: To determine $,$ use either the relationship for period $3$ or $4.$