I don't really understand how to estimate revenue. I have been given revenues from previous years...
I don't really understand how to estimate revenue. I have been given revenues from previous years and I am being asked to estimate the revenue for FY2020 and explain my rationale. Please help thank you! Please show all relevant work so I can understand how you got to the answer. Thank yOU!
| Year | Revenue Collections |
| 2002 | $ 329,687 |
| 2003 | $ 384,829 |
| 2004 | $ 378,109 |
| 2005 | $ 447,858 |
| 2006 | $ 523,845 |
| 2007 | $ 621,253 |
| 2008 | $ 824,460 |
| 2009 | $ 739,140 |
| 2010 | $ 821,729 |
| 2011 | $ 1,035,700 |
| 2012 | $ 901,902 |
| 2013 | $ 867,344 |
| 2014 | $ 857,415 |
| 2015 | $ 885,966 |
| 2016 | $ 963,744 |
| 2017 | $ 1,141,337 |
| 2018 | $ 1,201,877 |
| 2019 | $ 1,116,045 |
| 2020 | ?????? |
Homework Answers
We can use simple moving average method to estimate the 2020 sales as it smooths the fluctuations in data and is dynamic.
Moving average method gives you the trend of data 3 year moving average has been calculated in excel
last moving average is the required estimate of sales in 2020
| Year | Sales | 3 year Moving Average |
| 2002 | 329687 | |
| 2003 | 384829 | 364208 |
| 2004 | 378109 | 403599 |
| 2005 | 447858 | 449937 |
| 2006 | 523845 | 530985 |
| 2007 | 621253 | 656519 |
| 2008 | 824460 | 728284 |
| 2009 | 739140 | 795110 |
| 2010 | 821729 | 865523 |
| 2011 | 1035700 | 919777 |
| 2012 | 901902 | 934982 |
| 2013 | 867344 | 875554 |
| 2014 | 857415 | 870242 |
| 2015 | 885966 | 902375 |
| 2016 | 963744 | 997016 |
| 2017 | 1141337 | 1102319 |
| 2018 | 1201877 | 1153086 |
| 2019 | 1116045 | |
| 2020 | 1153086 |
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