BUS 126 Assignment #1 A.Sohrabian 1. Suppose that you work for a U.S. senator who is contemplating writing a bill that would put a national sales tax in place. Because the tax would be levied on the sales revenue of retail stores, the senator has asked you to prepare a forecast of retail store sales for year 8, based on the data from year 1 through year 7. The data are: Year Retail Store Sales $1,225 1,285 1,359 1,392 1,443 1,474 1,467 a. Use, the first naive forecasting model presented in the first lecture to prepare a forecast of retail store sales for each year from 2 through 8. b. Prepare a time-series graph of the actual and forecast values of retail sales for the entire period. c. Calculate the root-mean-squared error for your forecast series