Exponentially Smoothed Series (a = 0.8) Ratio 1.48 The table below shows the inventory-sales ratio for manufacturing and trade for a region over a period of 8 years. Use the method of simple exponential smoothing to obtain forecasts of the inventory-sales ratio over the next 4 years. Use a smoothing constant of a = 0.8. Graph the observed time series and forecasts. Year 1 Complete the table below. Year Ratio 1 1.48 2 1.46 3 1.51 4 1.42 5 1.43 2345678 1.46 6 1.45 1.51 1.42 7 1.44 1.43 8 1.45 1.45 9 1.44 1.45 10 11 12 (Round to two decimal places as needed.) Graph the observed time series and forecasts. The original series is graphed in black, the exponentially smoothed series is graphed in blue, and the forecasted values are graphed in red. Choose the correct graph below. A. Ratio 1.7 B. Ratio Q 1.7- 1.3- 1.3 13 13 Year Year C. D. Ratio Q Ratio Q 1.7- 1.7 Q 1.3- 0 1.3+ 13 0 13 Year Year