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Average Sales Forecast (LG15-3) Formula: Actual - Forecast Actual Suppose a firm has had the following historic sales figures. Year: 2012 2013 2014 2015 2016

Average Sales Forecast (LG15-3)

Formula: Actual - Forecast

Actual

Suppose a firm has had the following historic sales figures.

Year: 2012 2013 2014 2015 2016

Sales $2,500,000 $3,750,000 $2,400,000 $2,000,000 $2,600,000

What would be the forecast for next year's sales using the average approach?

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