Employing the data on U.S. coffee C futures from September and October, complete the following analyses (assuming daily data points): a) Formulate a 3-period moving average to predict the price on November 1. State the forecast, the MSE, and the MAPE. b) Predict the price using exponential smoothing with a smoothing constant of 0.30, starting with an initial forecast of 130 for September 1. Report the November 1 forecast, the MSE, and the MAPE. c) Ascertain the optimal smoothing constant that minimizes MAPE in the exponen- tial smoothing equation, given that can range from 0 to 1. Specify the optimized constant, the November 1 projection, the MSE, and the MAPE.

Coffee prices below:

Date Price 9/1/2023 150.95 9/5/2023 151.4 9/6/2023 151.75 9/7/2023 147.4 9/8/2023 146.25 9/11/2023 151.55 9/12/2023 150.7 9/13/2023 151.05 9/14/2023 153.1 9/15/2023 158.25 9/18/2023 158.7 9/19/2023 167.5 9/20/2023 158.2 9/21/2023 154.85 9/22/2023 151.15 9/25/2023 148.8 9/26/2023 150.85 9/27/2023 149.25 9/28/2023 147.2 9/29/2023 146.15 10/2/2023 149.1 10/3/2023 148.75 10/4/2023 146.35 10/5/2023 145.4 10/6/2023 146.05 10/9/2023 146.05 10/10/2023 147.5 10/11/2023 147.7 10/12/2023 149.3 10/13/2023 154.9 10/16/2023 154.15 10/17/2023 157.05 10/18/2023 158.05 10/19/2023 163.95 10/20/2023 165.25 10/23/2023 165.85 10/24/2023 168.15 10/25/2023 162.3 10/26/2023 161.2 10/27/2023 160.95

10/30/2023 159.1 10/31/2023 167.3