Income at the architectural firm spraggings and yunes for the period february to july was as follows: month february march april may june july income (in $ thousand) 70.0 68.5 64.8 71.7 71.3 72.8 use trend-adjusted exponential smoothing to forecast the firm’s august income. assume that the initial forecast average for february is $65,000 and the initial trend is 0. solve the problem with a) = 0.1 = 0.2. b) = 0.1 = 0.8. determine which smoothing constant provides a better forecast using mse.

Money Market Account:

A) allows ATM withdrawals

C) has a minimum balance requirement

401K:

B) provides tax-deferred savings

D) has penalties for early withdrawal

Explanation:

A money market account is an account in a bank that pays higher interests than a normal savings account and they tend to have a minimum balance requirement.  Also, they allow the money to be withdrawn at ATMs.

A 401K is a retirement plan that allows employees to save their money and it is sponsored by the employer. In this plan, the money is taken from the salary before the taxes are deducted. Also, when people withdraw money from these accounts before a certain age, they have to pay an early withdrawal penalty that is around 10% of the amount that is taken out.