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What methods would you use to forecast the next 12 months based on previous data

ID: 432044 • Letter: W

Question

What methods would you use to forecast the next 12 months based on

previous data? Why?

Product Forecast: Pincs industrics sells the GCP 3000 worldwide with most sales in the Northern Hemisphere. The CEO assumes that GCP 3000 sales over the previous 24 months to be the best forecasting tool for GCP 4000 sales in the first 12 months following introduction. Monthly sales for the past 24 months are as follows: 2017 2018 January10167 9614 February 10279 10325 March April May 10106 10107 9896 9596 9807 9596 10182 9896 24819 25348 25141 25050 Jul August September 19697 20016 October November 9993 10066 December 9986 9919 19882 19665 What trends do you see in the previous sales demands? Why?

Explanation / Answer

Answer:

Method to be Used:

Reason for choosing:

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