Final answer:
Due to missing values for the smoothing constant and initial forecast, it is not possible to provide forecasts for periods 2 through 12 using exponential smoothing. Exponential smoothing requires these inputs to calculate future forecasts.
Step-by-step explanation:
The subject of this question is exponential smoothing, which is a technique used in time series analysis to forecast future data points by combining the actual value of a time series with previous forecasts. However, the student has not provided either the smoothing constant (α) or the forecast for year 1, which are essential to complete the forecast for periods 2 through 12. Therefore, without these values, it is not possible to provide the required forecasts.
To illustrate with an example, if we were given a smoothing constant (α) of, let's say, 0.5, and a forecast for year 1 (F1) of 100 units, the forecast for the next period (F2) would be calculated using the formula F2 = α * Actual demand in period 1 (A1) + (1 - α) * F1. This process would be repeated for subsequent periods to obtain forecasts from periods 2 through 12.
Since we are lacking the necessary values from the student's question, we would ask the student to provide the missing values to proceed with the calculations.