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You are given the quarterly demand (in units) of a product for the past seven years. It has been determined that the data has only
You are given the quarterly demand (in units) of a product for the past seven years. It has been determined that the data has only seasonal and random components. You want to generate forecast using multiplicative seasonal method. After performing some calculations, the seasonal indices for quarter 1 through quarter 3 are found to be 1.122, 1.584, and 0.43, respectively. If the annual demand of the product in year 8 is predicted to be 14,224 units, what is the forecast of the demand in the first quarter of year 8? Use at least 4 decimals in your calculation and
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