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22 November, 21:11

Mary, Susan and Sarah are running a beach boutique on the board walk of Ocean City.

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  1. 22 November, 21:14
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    Answer:The result of simple forecast combination is 354

    Explanation:

    Simple forecast combination = (forecast of Mary + forecast of Susan + forecast of Sarah) / 3

    = (315 + 516 + 196) / 3

    = 354

    Simple forecast model is a naive model where the future sales can be predicted based on the past experiences. Here the three partners have different forecast so based on the average of their forecast the sales for this year's red hoody lifeguard can be predicted as 354.
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