Consider the following time series data.

Month

1

2

3

4

5

6

7

Value

24

13

20

12

19

23

15

Using the last value as the forecast for the next period, calculate the forecast for month 8.

Which one of the following options is the answer?

Select one: a. 15 b. 20 c. 14 d. 17 e. 13