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

Question

Question

Suppose a firm has had the following historic sales figures.

Year: 2012 2013 2014 2015 2016

Sales: $3,200,000 $$3,450,000 $3,100,000 $3,700,000 3,300,000

What would be the forecast for next year's sales using the average approach?

Answer 1

Answer #1

Next year's sales = ($3,200,000 + $3,450,000 + $3,100,000 + $3,700,000 + $3,300,000) / 5

Next year's sales = $3,350,000

Answer 2

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