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