B8 X V fx A B C D E F G H Forecasting using Exponential Smoothing: The forecasted usage of steel consumption for Tesla Motors was 1,500 tons in January, the company had a slight downturn in orders for their all-electric cars, and the actual usage was 1,100 tons. The Sales manager wants you to calculate the Forecast for February using smoothing coefficients (a) of .7, .8, .9 and 1.0 Use the table below to calculate your forecast for February. Create the following formula in row 5 for each of the four different a levels (.7, .8, .9, & 1.0). Credit will only be allowed if formulas or Excel functions are used (possible points - 15) Ft+1 = aDt + (1-a)F.) 2 3 Task 1 4 Calculate the February Forecast using four different smoothing Coefficients 5 Smoothing Coeffiient (a) 0.7 0.8 0.9 1.0 6 January Forecasted Usage 1400 1400 1400 1400 7 January Actual usage 1100 1100 1100 1100 8 February Forecast 9 10 Create an Excel Formula using the formula in the yellow box above as a guide 11 12 Task 2 13 points Allowed 14 Explanation regarding what you have learned about using different Alpha values: 15 16