You’ve been asked to use the following historical sales information to forecast next year’s sales for Worldwide Widget Manufacturing, Inc. The actual sales for 2020 were $1,950,000.
Year: 2015 2016 2017 2018 2019
Sales $1,750,000 $2,000,000 $1,350,000 $2,250,000 $1,800,000
What would be next year’s forecast using the naïve approach and the average sales approach? What would be the MAPE using the naïve approach and the average sales approach?