Unemploymen t Rate (NSA) 2.9% 2.8% 3.0% Time Period 2018Q3 201804 2019Q1 201902 201903 201904 202001 202002 3.1% 3.2% 3.3% 3.0% 4.7% 1. Use the simple exponential smoothing method to form forecast for the next four periods using 202002 as a base forecast for 202003 and a smoothing constant alpha = 0.2 Error Time Period 202003 202004 2021Q1 202102 Unemploymen Forecas t Rate (NSA) t 5.5% 4.7% 5.9% 6.2% 4.9% 2. Compute the ME, the RMSE, and the MAPE for the simple exponential smoothing fore- cast for the whole four periods (including the base forecast) 3. Did you notice we are using the same unemployment numbers that were in the midterm exam? Looking back at your result, does the simple exponential smoothing perform better than the other methods? Explain your rationale. 290 words Unemploymen t Rate (NSA) 2.9% 2.8% 3.0% Time Period 2018Q3 201804 2019Q1 201902 201903 201904 202001 202002 3.1% 3.2% 3.3% 3.0% 4.7% 1. Use the simple exponential smoothing method to form forecast for the next four periods using 202002 as a base forecast for 202003 and a smoothing constant alpha = 0.2 Error Time Period 202003 202004 2021Q1 202102 Unemploymen Forecas t Rate (NSA) t 5.5% 4.7% 5.9% 6.2% 4.9% 2. Compute the ME, the RMSE, and the MAPE for the simple exponential smoothing fore- cast for the whole four periods (including the base forecast) 3. Did you notice we are using the same unemployment numbers that were in the midterm exam? Looking back at your result, does the simple exponential smoothing perform better than the other methods? Explain your rationale. 290 words