Project Deliverables You will need to research the cost of steel coils (hot or cold rolled) to determine your material cost. Use only reliable sources, Wikipedia is not a reliable source. Your team must determine what a reliable source is and cite your source. To forecast pipe production, you will need to evaluate the raw material cost from previous years. Use at minimum 20 years of raw material cost (hot or cold rolled steel); and other variables (iron ore/ oil) or any others you think will determine demand. You may use more year's data if you choose. HINT! - You are forecasting demand for raw material (coils). Once you have sufficiently forecasted the raw material cost, you will need to plan operations to facilitate the increase or decrease of production in your facility. Please use the appropriate forecast and explain why you chose that specific model. 1. Determine if you should increase production or decrease and by how much? Based on the right forecast model. Use the past 20 years (2000- 2021) of Hot or Cold rolled steel prices at yearly interval averages to forecast cost. Specify hot or cold in your report. a. Make sure to use an excel model to do your forecast. b. Research independent variables that affect the price of steel coils c. Use these independent variables to forecast the next year's production d. Explain the assumed relationship between the independent variable and dependent variable. e. Summarize historical errors using MAD, MSE, or MAPE f. Use standard error of estimate to determine how accurate your forecast is. g. Check for correlations and explain 2. Once you have completed your forecast, determine the cost of steel coils for 2022