Company H has developed a new product and the directors are trying to forecast the revenue and costs for the next four years Part (a) The directors have hired a market research company to forecast the potential sales volumes for each year. The market research firm has advise Company H on an appropriate selling price for the product. They have also indicated how much the selling price could be increased by each year. However, they have indicated that sales volume for each year will depend on economic conditions. Using this information provided, please calculate the following: - The selling price per unit for each of the four years - The expected value of the sales volumes for each of the four years - The total revenue for each of the four years Part(b) Company H's purchasing manager has provided information relating to the cost of materials in recent years. Using this information and your calculations in part (a), please calculate the following: - The average annual growth in the cost of materials per unit in recent years - The correlation co-efficient of the cost of materials per unit over over during this period - The forecast cost of materials per unit for each of the next four years - The total cost of materials for each of the next four years. Part (a) Please complete the following calculations Year 1 SellingpriceperunitTotalrevenue Good Average Poor Year 2 Units % Expected value Good Average Poor Year 3 Units % Expected value Good Average Poor \begin{tabular}{|lrrrrrr|} \hline Company H Historic cost of materials & & & & & & \\ & 2017 & 2018 & 2019 & 2020 & 2021 & 2022 \\ Cost per unit & f46.00 & f48.00 & f48.00 & f51.50 & f52.00 & f55.00 \\ \hline \end{tabular} Part (b) Please complete the following calculations Average annual growth rate in cost per unit Correlation co-efficient of the cost per unit Forecast cost of materials for next four years Cost per unit Units Total cost