(a)[4]
Use Table 1 and lines 24–26. Calculate the:
- mean seasonal variation for quarter 3 [2]
- forecast sales for quarter 3 in 2021, using a forecast trend of $86 560. [2]
(b)[2]
Use lines 20–21. Calculate the income elasticity of demand (YED) for JGS tours among the people of country K.
(c)[12]
Use your answers to 2(a) and (b), together with any other relevant information. Discuss whether sales forecasts based on past sales of JGS are likely to be accurate.