WAN Smoothing Explanation

I’m wondering if anyone has more details to share about how WAN Smoothing works in terms of expected usage. The most specific details I’ve found are within the web admin description (under the ? button). What I’m searching for is a more in-depth description of each level you can select between and expected usage (other than 2x more, 3x, etc) - perhaps just a more layman’s explanation?

Thanks in advance!

Please refer the explanation below.