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You have been asked to use the following historical sales information to forecast next years sales for Worldwide Widget Manufacturing, Inc.. The actual sales for
You have been asked to use the following historical sales information to forecast next years sales for Worldwide Widget Manufacturing, Inc.. The actual sales for 2016 were $1,950,000. What would be next years forecast using the naive approach and the average sales approach?What would be the MAPE using the naive approach and the average sales approach?
year: | 2011 | 2012 | 2013 | 2014 | 2015 |
Sales | $1,750,000 | $2,000,000 | $1,350,000 | $2,250,000 | $1,800,000 |
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