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 calculte the Forecast for February using a smoothing coefficient () 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 levels (.7, .8, .9, & 1.0). (possible points - 15)
Task 1
Calculate the February Forecast using four different smoothing Coefficients
Smoothing Coeffiient ()	0.7	0.8	0.9	1.0
January Forecasted Usage	1500	1500	1500	1500
January Actual usage	1100	1100	1100	1100
February Forecast
	Create an Excel Formula using the formula above as a guide