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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def _smooth(values: List[float], beta: float) -> List[float]: """ Exponential smoothing of values """

    avg_value = 0.
    smoothed = []
    for i, value in enumerate(values):
        avg_value = beta * avg_value + (1 - beta) * value
        smoothed.append(avg_value / (1 - beta ** (i + 1)))
    return smoothed