Suppose a firm has had the historical sales figures shown as follows

Suppose a firm has had the historical sales figures shown as follows. What would be the forecast for next year’s sales using the naïve approach?

Year 2013 2014 2015 2016 2017
Sales $ 1,500,000 $ 1,750,000 $ 1,400,000 $ 2,000,000 $ 2,200,000

The naïve estimate for 2018 is the most recent sales figure of $2,200,000.


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