Suppose that sales of a household appliance are reported to be 13,000 units during the first quarter

Question:

Suppose that sales of a household appliance are reported to be 13,000 units during the first quarter of the year. The seasonal index for the first quarter is 1.24. Use this information to make a forecast of sales for the entire year. Actual sales for the year were 42,000 units. Calculate your percentage error for the year. What percentage error would result if you forecast sales for the year by simply multiplying the 13,000 units for the first quarter by 4?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Forecasting With Forecast X

ISBN: 647

6th Edition

Authors: Holton Wilson, Barry Keating, John Solutions Inc

Question Posted: