Question: 1 . Using the dummy variable approach, forecast sales for January through December of the fourth year. How would you explain this model to Karen?

1 .

Using the dummy variable approach, forecast sales for January through December of the fourth year. How would you explain this model to Karen? Assume that January sales for the fourth year turn out to be $

295, 000 .

What was your forecast error? If this error is large, Karen may be puzzled about the difference between your forecast and the actual sales value. What can you do to resolve her uncertainty about the forecasting procedure?

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