Fruit Smoothies Inc. is growing its presence in the European market, specifically in Germany, France, and Italy.

Required: Develop a seasonal sales forecasting model using the following historical sales data. Hint: use multiple regression analysis. Predict the next year's sales and compute standard errors of the forecasts.

Historical Sales Data:

Sales, thousands of liters	Year	Calendar Month
4800	1	1
4850	1	2
4900	1	3
5000	1	4
5150	1	5
5250	1	6
5350	1	7
5450	1	8
5550	1	9
5650	1	10
5750	1	11
5850	1	12
5900	2	13
6000	2	14
6100	2	15
6200	2	16
6300	2	17
6400	2	18
6500	2	19
6600	2	20
6700	2	21
6800	2	22
6900	2	23
7000	2	24
7100	2	25
7200	3	26
7300	3	27
7400	3	28
7500	3	29
7600	3	30
7700	3	31
7800	3	32
7900	3	33
8000	3	34
8100	3	35
8200	3	36