Question: In Problem 46 one of the new products in the
In Problem 46, one of the new products in the GreenClean line that Klorax is ready to introduce is an all-purpose cleaner, and Klorax is attempting to forecast what demand might be like 5 years into the future. However, it has no historical demand data to use to develop a forecast model. The marketing department has made its own estimate of first-year sales and has acquired estimates for the new cleaner from four other sources—top management, the sales force, a cleaning products trade association, and an independent marketing firm. Top management estimates first year sales to be 34,000 units; the marketing department’s estimate is 47,000 units; the sales force suggests 41,000 units; the trade association estimates that first-year sales will be 28,000 units; and the independent marketing firm estimates sales will be 51,000 units. Using these estimates and the demand data and forecast model for the detergent in Problem 46, develop a forecast for planning purposes for year 5 for the new cleaner.
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