Consider the following time series representing the monthly earnings for

Consider the following time series representing the monthly earnings for Company X for the last 24 months.  Also shown are the Simple Exponential Smoothing (SES) forecasts using a smoothing constant (alpha) of 0.6 and the SES forecasts using a smoothing constant (alpha) of 0.1. Use this information to answer (a) through (d). Type your responses in the box below. (a) Using SES with alpha = 0.1, what is the value of the forecasting error for t = 10 (i.e. e10)? (b) Compute the MAD for the SES (alpha = 0.6) forecasts. (Hint: do not include the first period, t = 1.) (c) Compute the MAD for the SES (alpha = 0.1) forecasts. (Hint: do not include the first period, t = 1.) (d) Which of the smoothing constants (0.6 or 0.1) works better for forecasting this time series, and why?