Which of the following is true concerning the smoothing constant (0:) used in exponential smoothing? (Note: Use the formula EH] = (1A; + o:(l a)A_1 + o:(1 a)2A_2 + a(l a)3A_3 + - .. O The higher the value of or, the higher the weight placed on recent periods. OThe higher the value of a, the higher the probability of forecast error. OThe higher the value of or, the lower the weight placed on recent periods. OThe higher the value of a. the lower the probability of forecast error. 0 None of the above