Suppose a firm has had the following historic sales figures. Year: 2012 2013 2014 2015 2016...

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Suppose a firm has had the following historic sales figures. Year: 2012 2013 2014 2015 2016...

Suppose a firm has had the following historic sales figures. Year: 2012 2013 2014 2015 2016 Sales $3,900,000 $5,150,000 $3,800,000 $3,400,000 $4,000,000 What would be the forecast for next year’s sales using the naïve approach?

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Answer 1

Answer #1

As per the naive approach, last period's actuals are used as this period's forecasts. Hence forecasted sales for 2017 would be actual sales for 2016 i.e. $4,000,000.

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Answer 2

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