Given the following data: a) Prepare a forecast using smoothing constant a = 0.40. b) What is the starting point? An initial forecast value must be determined. c) Average of several periods of actual data. d) Subjective estimate (for this example, use 60). e) First actual value (nave approach). Period 3 Actual 6556 63 52 62 60 Forecast F2-F1+0.4 (A1-FI) F3-F2+04 (A2+F2) F4-F3+04 (A3+F3) Calculations 60+0.4 (63-60)-61.20 61.2+04 (52-61.2) 57.52 57.52+0.4 (56-57.52) 56.91