Forecast error

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Food and Beverage Sales For the Vintage Restaurant ($1000s) Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Forecast sales for January through December of year four. Assume that January sales for the fourth year turned out to be $295,000. What was your forecast error? Include detailed calculations of your analysis in an appendix to your report.

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