question archive Forecasting Lost Sales The Carlson Department Store (in California) suffered extensive and heavy damage when an earthquake struck in December of 2006
Forecasting Lost Sales The Carlson Department Store (in California) suffered extensive and heavy damage when an earthquake struck in December of 2006
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Forecasting Lost Sales The Carlson Department Store (in California) suffered extensive and heavy damage when an earthquake struck in December of 2006. The store was closed for 1 year after that. Carlson is now involved in a dispute with its earthquake insurance company concerning the amount of lost sales during the time the store was closed. The key issue which must be resolved: The amount of sales Carlson would have made if the earthquake had not happened (hence the store would have remained open in 2007). We have sales figures for the department store from years 2003 to 2006 recorded quarterly (presented in the table below). Your task is to forecast the sales for 2007 taking into account any and all Seasonal, Irregular, and Trend components in the Time Series data. Follow the steps from the video tutorial example and notes closely and report your 2007 Q1 through Q4 sales forecasts. Use Google Sheets for your analysis. Year Quarter Sales (Y) ' 2003 1 1,710,000 1,900,000 | .| 2,740,000 4,200,000 1,900,000 2,130,000 2,560,000 4,160,000 1,890,000 2,290,000 2,830,000 4,040,000 2,090,000 2,540,000 2,970,000 4,350,000 2004 2005 2006
