The seasonal indices resulting from decomposition from a data series that was stationary are shown below for a retail store (expressed as a percentage e.g. 0.63 represents 63%):

Jan0.63

Feb0.72

Mar0.94

Apr1.11

May1.02

Jun1.06

Jul0.80

Aug0.70

Sep1.03

Oct1.18

Nov1.25

Dec1.56

a)The manager of the store forecasts that sales for the coming year will total $72 million. On the basis of this forecast of total sales, what will be the forecast sales for the month of March?

b)January sales were $3.5 million. If this is the prevailing level of sales for the remaining 11 months, what will be the total annual sales for this year?

On the basis of January sales given in the previous question and the seasonal indices listed at the beginning of the question, what should the sales be for the first quarter?