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The forecast for the monthly demand of a product is given in the table below:

$\begin{array}{|c|c|c|} \hline \textbf{Month} & \textbf{Forecast} & \textbf{Actual Sales} \\ \hline 1 & 32.00 & 30.00 \\ \hline 2 & 31.80 & 32.00 \\ \hline 3 & 31.82 & 30.00 \\ \hline \end{array}$

The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand is 

  1. $0.10$
  2. $0.40$
  3. $0.50$
  4. $1.00$
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