Management are considering a voluntary early retirement program to address the reduction in forecast business orders. In particular, management want to know if there are enough upcoming retirees to accomplish a cost savings of $1.1 million. Elaborate type of forecasting approach that is being used and nature of the forecast outcome.

Total salaries of all employees - $2,36.65.922

Below is the data given for probable retirees

Job Title	Job Level	Salary	Position Code	Reports To	Date of Hire	Date of Birth	Gender	EE Group	Age	Department	YRS Service	Avg Rating	Retirement Preference	Succession Preference
	7
Sale Rep	8	$40,089	Sale Rep - 38	Manager Sales West	11-Mar-19	25-May-59	M	V	61.8	4303	2.0	A	65	1
General Worker	9	$32,200	General Worker - 52	Supervisor Operations	20-Sep-17	8-Aug-59	M		61.6	4302	3.5	D	65	1
Senior HR Consultant	8	$91,770	Senior HR Consultant - 1	VP Human Resources	13-Jan-10	16-Sep-59	F	F	61.5	4307	11.1	D	65	1
Supervisor Operations	6	$78,594	Supervisor Operations - 5	Manager Operations	23-Sep-05	31-Aug-59	M		61.5	4302	15.4	C	65	1
Systems Technician	7	$66,654	Systems Technician - 1	IT Manager	15-Jan-01	19-Sep-59	M		61.5	4306	20.1	B	65	1
General Worker	9	$39,848	General Worker - 13	Supervisor Operations	28-May-93	21-Sep-59	F	F	61.5	4302	27.8	D	65	1