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A car manufacturing company wants to analyze the historical sales data and forecast for upcoming years. Sales data for last 08 years was gathered and
A car manufacturing company wants to analyze the historical sales data and forecast for upcoming years. Sales data for last 08 years was gathered and is given in the following table: Year Car sales (Million $) Year Car sales (Million $) 2012 73 2016 132 2013 81 2017 145 2014 98 2018 158 2015 113 2019 150 (a) Compute the sales forecast for the year 2020 and 2021, using the method which you think, is suitable for the above given data. (05 marks) (b) If we use some averaging method to work out the forecast, what would be the outcomes? (01 Mark)
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