You're the marketing director of Southern Pride Candle Company, and you've been studying sales data for the last five years. Despite several newcomers entering the market, sales have been increasing steadily during this period. Specifically, sales increased by 8.9%, 9.1%, 8.7%, and 9.3% over each previous year's sales, respectively. What does your trend analysis tell you about sales for the coming year?
A) It's reasonable to assume that your sales will increase approximately 9% over the previous year's sales.
B) It's safe to predict an increase in sales of at least 9.3% or higher over the previous year.
C) It would not be smart to project sales based on this data because it doesn't factor in changes in the marketplace.
D) The pattern indicates that your company will see an increase of slightly less than 9.3%, probably something like 9.1%.
Correct Answer:
Verified
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