Suppose a firm has had the historical sales figures shown as follows. What would be the forecast for next year's sales using the average approach?
$$\begin{array} { c c c c c c c }
\text { Year } & 2013 & 2014 & 2015 & 2016 & 2017 \
\text { Sales } & \$ 1,800,000 & \$ 1,950,000 & \$ 1,700,000 & \$ 2,000,000 & 2,500,000
\end{array}$$
A) $1,990,000
B) $1,830,000
C) $2,160,000
D) $2,080,000

Question

Suppose a firm has had the historical sales figures shown as follows. What would be the forecast for next year's sales using the average approach?
$$\begin{array} { c c c c c c c } 
\text { Year } & 2013 & 2014 & 2015 & 2016 & 2017 \
\text { Sales } & \$ 1,800,000 & \$ 1,950,000 & \$ 1,700,000 & \$ 2,000,000 & 2,500,000
\end{array}$$
A) $1,990,000
B) $1,830,000
C) $2,160,000
D) $2,080,000

Quizplus · Accepted Answer

The average sales for the five years is $1,990,000.

Suppose a Firm Has Had the Historical Sales Figures Shown