Question
Please solve with show your all calculation step by step Thanks for help. You are in charge of forecasting the sales volume for growing retail
Please solve with show your all calculation step by step
Thanks for help.
You are in charge of forecasting the sales volume for growing retail company. You believe that the annual sales volume is strongly correlated with the retail floor space that your company has available. You also know that your company plans to increase this floor space substantially for the next two years. The historical and expected floor space values for the years 2017-2022 are given. Moreover, the historical sales volume data for the years 2017-2020 are also provided in Table
a) Based on this information, what would be your (sales volume) forecast for 2021?
b Suppose that you are at the end of 2020 and you want to use Holt's method for forecasting what would be the initial values of S0 and G0 for this forecast?
c. At the end of 2020, what is the forecast for 2021 according to part b?
d. If you compare the methods in part (a) and part (b) which one is more appropriate and why? Explain
Year Sales Volume Floor Space 2017 150 9 2018 180 15 2019 360 20 2020 400 22 2021 NA (Not available) 40 2022 NA (Not available) 60Step by Step Solution
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