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.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
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

  1. Forecast monthly sales for 2022 choosing an appropriate method.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
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)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
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-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education