Describe the various forecasting methods. What are the steps needed to develop a forecast? Explain how you could use Excel to help develop a forecast. Provide an example of an Excel forecast (you must use your own Excel software to model this -pics, pdf, pjg, etc are not allowed) for a future three months on one or more of the data files below. Similar to previous weeks, prepare your forecast based on the attached Excel worksheets and the data column represented by your last name. Use any of the forecasting methods in your text or use Excel's forecast functions.

Some forecast models require an x and y (independent or dependent) variable. Apply this just as you did in week 4

\begin{tabular}{r|r} \multicolumn{1}{c|}{ Sales } & \multicolumn{1}{c}{ Inventory } \\ \hline 5,873,050 & 97,884 \\ \hline 8,882,600 & 148,043 \\ \hline 6,449,100 & 107,485 \\ \hline 4,512,200 & 69,418 \\ \hline 4,021,500 & 63,833 \\ \hline 4,529,600 & 69,686 \\ \hline 5,094,000 & 77,182 \\ \hline 5,330,700 & 80,768 \\ \hline 5,188,700 & 78,617 \\ \hline 6,094,200 & 92,336 \\ \hline 8,781,800 & 133,058 \\ \hline 8,161,100 & 108,815 \\ \hline 3,931,500 & 52,420 \\ \hline 3,476,400 & 46,352 \\ \hline 4,185,900 & 55,812 \\ \hline 2,897,000 & 38,627 \\ \hline 4,264,800 & 55,387 \\ \hline 6,508,700 & 84,529 \\ \hline 3,992,800 & 51,190 \\ \hline 4,666,300 & 58,329 \\ \hline 3,575,900 & 44,699 \\ \hline 3,332,500 & 41,656 \\ \hline 4,185,100 & 52,314 \\ \hline 5,346,000 & 66,825 \\ \hline 2,691,200 & 33,225 \end{tabular}