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Forecasting Monthly Sales for Prescott College Bookstore: Analyzing Trends and Predicting Future Performance

Forecasting methods applied to bookstore sales data for predictive insights.

Charlotte Garcia
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Forecasting Monthly Sales for Prescott College Bookstore: AnalyzingTrends and Predicting Future PerformanceUsing the provided historical sales data for the Prescott College Bookstore, conduct acomprehensive analysis of its sales trends andforecasting methods. Your response shouldinclude:1.A summary of the descriptive statistical analysis of the bookstore’s monthly salesdata.2.An interpretation of graphical representations, including trends and seasonal patternsobserved in the sales data.3.A comparison of the different forecasting techniques used (Moving Average, SimpleExponential Smoothing, Holt’s Double Exponential Smoothing, and Winter’sExponential Smoothing), along with an evaluation of their accuracy based on errormetrics.4.A discussion on the implications of the forecasted sales for the next 12 months andhow this impacts the decision on whether to outsource the bookstore operations.5.Your final recommendation on whether the college should continue operating thebookstore or contract it out.Support your response with appropriate calculations, charts, and interpretations. Yourassignment should be1,500–2,000 wordsin length.

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Business Management

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