Please make sure you follow all the steps and instructions. Also, please explain every step.

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Problem 4: Forecasting You have an idea for a new cake shop, but you want to get an idea of how your business could grow by capturing portions of the potential market in the next 5 years (60 months). Construct a forecasting worksheet to calculate: - the number of new clients each month (period), and - the total client base (cumulative number of clients signed up) each month. There are the three key parameters values that impact your projections (Figure 5): 1. Total market potential 2. \% remaining captured/month 3. Market growth/month Figure 5: Forecasting Parameters In your model, make projections for 60 months based on these parameters for the two separate scenarios described below to project the number of new customers (Figure 6). Scenario 1: Constant Market - Total market potential is 5,000,000 customers. Each month you sign up 1.0% of customers in the market that have not yet signed up. Scenario 2: Growing Market - Total market potential is initially 5,000,000 customers but grows at 2% per month. Each month you sign up 1% of customers in the market that have not yet signed up. Both scenarios begin at month 0 and have 0 new clients and 0 total clients. 1. The Constant Market scenario: Month 1 (and onwards), calculations must consider the previous month's Total_Clients values as well as the current month's values resulting from capturing New_Clients. 2. The Growing Market Scenario: starting from Month 2 the Total_Market calculations must also account for the Market growth/month parameter value. Problem 4: Forecasting You have an idea for a new cake shop, but you want to get an idea of how your business could grow by capturing portions of the potential market in the next 5 years (60 months). Construct a forecasting worksheet to calculate: - the number of new clients each month (period), and - the total client base (cumulative number of clients signed up) each month. There are the three key parameters values that impact your projections (Figure 5): 1. Total market potential 2. \% remaining captured/month 3. Market growth/month Figure 5: Forecasting Parameters In your model, make projections for 60 months based on these parameters for the two separate scenarios described below to project the number of new customers (Figure 6). Scenario 1: Constant Market - Total market potential is 5,000,000 customers. Each month you sign up 1.0% of customers in the market that have not yet signed up. Scenario 2: Growing Market - Total market potential is initially 5,000,000 customers but grows at 2% per month. Each month you sign up 1% of customers in the market that have not yet signed up. Both scenarios begin at month 0 and have 0 new clients and 0 total clients. 1. The Constant Market scenario: Month 1 (and onwards), calculations must consider the previous month's Total_Clients values as well as the current month's values resulting from capturing New_Clients. 2. The Growing Market Scenario: starting from Month 2 the Total_Market calculations must also account for the Market growth/month parameter value