On my assignment for a class I need help with these.
HI Trisha, You have several errors in this assignment. It appears you worked off the premise that taking the average of each season & adding the 12% increase would give you the new forecast. This is not correct.
I have attached the formula tip sheet which might help. (See this link above.) You need to calculate the averages of only the historical data for 2020-2022. Then you determine the overall average & use it to calculate the indices.
The indices are used to break up the new data by season but first you have to increase the 2022 total year but 12%, & then get a new seasonal average.. (Divide it by 4 seasons.) This number is then multiplied by each seasonal index to get the 2023 breakdown.
I have attached the case in reference.
HI Trisha, You have several errors in this assignment. It appears you worked off the premise that taking the average of each season & adding the 12% increase would give you the new forecast. This is not correct.
I have attached the formula tip sheet which might help. (See this link above.) You need to calculate the averages of only the historical data for 2020-2022. Then you determine the overall average & use it to calculate the indices.
The indices are used to break up the new data by season but first you have to increase the 2022 total year but 12%, & then get a new seasonal average.. (Divide it by 4 seasons.) This number is then multiplied by each seasonal index to get the 2023 breakdown.
I have attached the case in reference.