Peter is assisting with a report that will forecast sales for the next year

Business Jan 31, 2021

Peter is assisting with a report that will forecast sales for the next year. He has been asked to collate sales data for the previous five years in different seasons.He understands that will help account for seasonal trends. What kind of sales forecast report is Peter working on?

Expert Solution

Peter seems to be building a historical or past sales method to forecast future sales. In this model, you use past sales data to determine what the average sales have been for certain periods and use that number to forecast predicted sales for the same time period for the current year.

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