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 | $2,500,000 | $3,750,000 | $2,400,000 | $2,000,000 | $2,600,000 |
What would be the forecast for next year’s sales using the average approach?
Homework Answers
Next year’s sales using the average approach = ($2,500,000 + $3,750,000 + $2,400,000 + $2,000,000 + $2,600,000) / 5 = $2,650,000
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Suppose a firm has had the following historic sales figures.
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