Discuss the below problem:
Q: Income at the architectural firm Sprigging and Yuen's for the period February to July was as follows: Assume that the initial forecast for February is 70.0 (in $ thousands) and the initial trend adjustment is 0. The smoothing constants selected are a = 0.2 and beta = 0.9. Using trend-adjusted exponential smoothing, the forecast for the law firm's August income is thousand dollars (round your response to two decimal places). The mean squared error (MSE) for the forecast developed using trend-adjusted exponential smoothing is (thousand dollars)
Month February March April May June July
Income($000's) 75.0 71.5 66.4 72.3 73.5 74.0