Suppose a firm has had the following historic sales figures.Year:Sales2016$1,900,0002017$2,150,0002018$1,800,0002019$2,400,0002020$2,000,000What would be the forecast for next year's sales using the average approach?Next year's sales

Under average approach, the forecasted sales figure is based on the average of the historical sales…

Answered: Suppose a firm has had the following…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Suppose a firm has had the following historic sales figures. Year: Sales 2016 $1,900,000 2017 $2,150,000 2018 $1,800,000 2019 $2,400,000 2020 $2,000,000 What would be the forecast for next year's sales using the average approach? Next year's sales