Question: You have been asked to use the following historical sales information to forecast next years sales for Worldwide Widget Manufacturing, Inc.. The actual sales for 2016 were $1,950,000. What would be next years forecast using the naive approach and the average sales approach? What would be the MAPE using the naive approach and the average sales approach?
| year: |
2011 |
2012 |
2013 |
2014 |
2015 |
| Sales |
$1,750,000 |
$2,000,000 |
$1,350,000 |
$2,250,000 |
$1,800,000 |