Shawn works at a retail store that sells a variety of items, including umbrellas. Shawn knows that people buy umbrellas more in the summer season because of the higher frequency of storms. He has identified a formula based on past umbrella sales during the summer season. Shawn believes he can use this formula to predict future sales forecasts with a high degree of accuracy. This is an example of what type of sales forecast?

Question

Camille Ballard

Business

24 July, 15:17

Shawn works at a retail store that sells a variety of items, including umbrellas. Shawn knows that people buy umbrellas more in the summer season because of the higher frequency of storms. He has identified a formula based on past umbrella sales during the summer season. Shawn believes he can use this formula to predict future sales forecasts with a high degree of accuracy. This is an example of what type of sales forecast?

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Beans · Answer 1

Regression Analysis

Explanation:

Regression analysis is a strong statistical approach for evaluating the relation among two or more important variables.

Although there are many forms of regression analysis, they all analyze the effect on a dependent variable of one or more independent variables at their core