Question: Use the data provided in the table andUse the data provided in the table and the chart (the chart graphs the data represented in the

Use the data provided in the table andUse the data provided in the table and the chart (the chart graphs the data represented in the table) to answer the question. (6 Marks) Examine the provided dataset, which contains historical values across a time series. Your task is to develop a model capable of forecasting future data points. The data exhibits certain characteristics which are apparent in the provided table and chart. a) Identify the most appropriate forecasting technique(s) to model the given data. (1 Mark) b) Justify your choice of forecasting technique(s). Describe in detail the steps involved in the forecasting technique recommended for this scenario. Ensure that your explanation is comprehensive, clearly showing how each phase contributes to a reliable forecast. Highlight the utility of this method in informing strategic decisions. ( 5 Marks) There is no need to perform the actual forecast calculation; simply outline the steps you would take with the data. Year Quarter Sales (Volume) 2014 1 52 2014 2 65 2014 3 80 2014 4 60 2015 1 58 2015 2 74 2015 3 87 2015 4 61 2016 1 59 2016 2 76 2016 3 70 2016 4 63 2017 1 62 2017 2

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