EXERCISE 9-2 Forecasting Sales and Net Income Quarterly sales and net income data for General Electric...

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EXERCISE 9-2 Forecasting Sales and Net Income Quarterly sales and net income data for General Electric for Year 1 through Year 9 are shown below ($ millions). General Electric Sales Net Income Sales Net Income Sales Net Income Dec. Y1 $17,349 $1,263 Sep. Y4 $14,442 $1,457 Jun. Y7 $21,860 $2,162 Mar. Y2 12,278 964 Dec. Y4 17,528 1,685 Sep. Y7 21,806 2,014 Jun. Y2 13,984 1,130 Mar. Y5 14,948 1,372 Dec. Y7 24,876 2,350 Sep. Y2 13,972 996 Jun. Y5 17,630 1,726 Mar. Y8 22,459 1,891 Dec. Y2 16,040 1,215 Sep. Y5 17,151 1,610 Jun. Y8 24,928 2,450 Mar. Y3 12,700 1,085 Dec. Y5 19,547 1,865 Sep. Y8 23,978 2,284 Jun. Y3 14,566 656 Mar. Y6 16,931 1,517 Dec. Y8 28,455 2,671 Sep. Y3 14,669 1,206 Jun. Y6 18,901 1,908 Mar. Y9 24,062 2,155 Dec. Y3 17,892 1,477 Sep. Y6 19,861 1,788 Jun. Y9 27,410 2,820 Mar. Y4 12,621 1,219 Dec. Y6 22,848 2,067 Jun. Y4 14,725 1,554 Mar. Y7 19,998 1,677 Required: Use these data and any other historical information available to forecast sales and net income for each of the quarters ending September Year 9, December Year 9, March Year 10, and June Year 10. Explain the basis of your forecasts. EXERCISE 9-2 Forecasting Sales and Net Income Quarterly sales and net income data for General Electric for Year 1 through Year 9 are shown below ($ millions). General Electric Sales Net Income Sales Net Income Sales Net Income Dec. Y1 $17,349 $1,263 Sep. Y4 $14,442 $1,457 Jun. Y7 $21,860 $2,162 Mar. Y2 12,278 964 Dec. Y4 17,528 1,685 Sep. Y7 21,806 2,014 Jun. Y2 13,984 1,130 Mar. Y5 14,948 1,372 Dec. Y7 24,876 2,350 Sep. Y2 13,972 996 Jun. Y5 17,630 1,726 Mar. Y8 22,459 1,891 Dec. Y2 16,040 1,215 Sep. Y5 17,151 1,610 Jun. Y8 24,928 2,450 Mar. Y3 12,700 1,085 Dec. Y5 19,547 1,865 Sep. Y8 23,978 2,284 Jun. Y3 14,566 656 Mar. Y6 16,931 1,517 Dec. Y8 28,455 2,671 Sep. Y3 14,669 1,206 Jun. Y6 18,901 1,908 Mar. Y9 24,062 2,155 Dec. Y3 17,892 1,477 Sep. Y6 19,861 1,788 Jun. Y9 27,410 2,820 Mar. Y4 12,621 1,219 Dec. Y6 22,848 2,067 Jun. Y4 14,725 1,554 Mar. Y7 19,998 1,677 Required: Use these data and any other historical information available to forecast sales and net income for each of the quarters ending September Year 9, December Year 9, March Year 10, and June Year 10. Explain the basis of your forecasts.