FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Forecast monthly sales for 2022 choosing an appropriate method.
FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Forecast monthly sales for 2022 choosing an appropriate method.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
FORCASTING
using the data below can you answer the question:
Month | Sales |
Jan-16 | 747 |
Feb-16 | 697 |
Mar-16 | 1014 |
Apr-16 | 1126 |
May-16 | 1105 |
Jun-16 | 1450 |
Jul-16 | 1639 |
Aug-16 | 1711 |
Sep-16 | 1307 |
Oct-16 | 1223 |
Nov-16 | 975 |
Dec-16 | 953 |
Jan-17 | 1024 |
Feb-17 | 928 |
Mar-17 | 1442 |
Apr-17 | 1371 |
May-17 | 1536 |
Jun-17 | 2004 |
Jul-17 | 1854 |
Aug-17 | 1951 |
Sep-17 | 1516 |
Oct-17 | 1642 |
Nov-17 | 1166 |
Dec-17 | 1106 |
Jan-18 | 1189 |
Feb-18 | 1209 |
Mar-18 | 1754 |
Apr-18 | 1843 |
May-18 | 1769 |
Jun-18 | 2207 |
Jul-18 | 2471 |
Aug-18 | 2288 |
Sep-18 | 1867 |
Oct-18 | 1980 |
Nov-18 | 1418 |
Dec-18 | 1333 |
Jan-19 | 1333 |
Feb-19 | 1370 |
Mar-19 | 2142 |
Apr-19 | 2138 |
May-19 | 2078 |
Jun-19 | 2960 |
Jul-19 | 2616 |
Aug-19 | 2861 |
Sep-19 | 2237 |
Oct-19 | 2225 |
Nov-19 | 1590 |
Dec-19 | 1659 |
Jan-20 | 1613 |
Feb-20 | 1605 |
Mar-20 | 2349 |
Apr-20 | 2468 |
May-20 | 2532 |
Jun-20 | 3127 |
Jul-20 | 3288 |
Aug-20 | 3285 |
Sep-20 | 2485 |
Oct-20 | 2723 |
Nov-20 | 1835 |
Dec-20 | 1894 |
Consider five years of monthly profit for a company
-
Forecast monthly sales for 2022 choosing an appropriate method.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education