Problem
Business at Terry's Tie Shop can be viewed as falling into three distinct seasons: (i) Christmas (November-December); (ii) Father's Day (late May - mid-June); and (iii) all other times. Average weekly sales (ins) during each of these three seasons during the past four years has been as follows:
|
Season
|
Year 1
|
Year 2
|
Year 3
|
Year 4
|
|
1
|
1810
|
1976
|
2241
|
2280
|
|
2
|
2008
|
2155
|
2306
|
2408
|
|
3
|
911
|
10545
|
1105
|
1120
|
Assuming that the sales is not experiencing any leaner increasing or decreasing trends.
i. Determine a forecast for the average weekly sales in year 5 for season1.
ii. Determine a forecast for the average weekly sales in years 5 for season2.
iii. Determine a forecast for the average weekly sales in years 5 for season3.