Phase 4DB



Phase 4DB

Introduction

Forecasting sales is certainly an integral part of an organization through which they can make plans for their production and even employment. WidgeCorp plans for branching out into cold beverages is certainly an important step and must require business forecasting so that various factors i.e. production, profits and employment should be managed accordingly.

Selection of Variables in forecasting

Technique 1

There are various types of forecasting techniques that require different variables. Time series forecasting only requires monthly sales and the OLS technique will certainly give the forecasting according to the change in time. So, the following model could be used

Sales = ...