4:48 in f L Answered: Sales of a p... bartleby.com = bartleby E Q&A Business / Operations Managem... / Q&A Libr... / Sales LOVE US Sales of a particular product (in the thou... Try Need 1:1 help? Our live tutors bartleby > are available 24/7 tutor Step 1 Forecast Forecast sales(simple Years Sales Weights four year moving average) sales(weighte moving average) Serial no. F1 2015 48000 0.05 F2 2016 64000 0.15 F3 2017 67000 0.3 F4 2018 83000 0.50 F5 2019 - 65500 73600 Step 2 a) F5: 48000 + 64000 + 67000 + 83000 (

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.