3.3.1 Quantitative sales forecasting

Question 1

Moving averages

Answer 1

These are sales figures that are within consistent time intervals
Time series data
Can be difficult to interpret if the data has fluctuations
Four year or three year averages

Question 2

Three period moving averages

Answer 2

Calculates averages over 3 years
1,2,3
2,3,4

Question 3

Four quarter moving average

Answer 3

Takes the averages over the quarters of a year
Add four consecutive quarters
Midway is the second and third values