the Fearless Champions Outdoor Company is a catalogue sales operation that specializes in outdoor recreational clothing.  Demand for its items is very seasonal, peaking during the holiday season and during spring.  It has accumulated the following data for order per quarter (their seasons) during the past 3 years (year 3 being the most recent).  First determine the demand for year 4 (next year) using the Least Squares method.  What is the seasonal demand for the fourth quarter of year 4? Note: Orders are in the 1000's

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.