You were fired from JEWELL Products Company as National Sales Manager, because you couldn't calculate a sales forecast , but was rehired by CEO Joe...

You were fired from JEWELL Products Company as National Sales Manager, because you couldn't calculate a sales forecast, but was rehired by CEO Joe Ewell. In a meeting with Wall Street executives, he makes an unplanned statement that his company will come in "a little under $215 million " in sales for the year.

As usual, he shoots from the hip, but as National Sales Manager, you have to make him look good, and keep costs low. Given the sales results for the previous years below, calculate a sales forecast using the 4 different methods.

                            $ Millions

Year 1                182                                                 _____________ Simple Average

Year 2                201

Year 3                242                                                 ______________ 3 year Average

Year 4                190

Year 5                215                                                 ______________ 5 year Average

Year 6                220

Year 7                230                                                 ______________ Exponential Smoothing