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{"ops":[{"insert":"Tigers Ltd. sells tiger related paraphernalia and has been in operation since 2011.\nThe company is trying to estimate its future sales. Its past sales were as follows:\n(All values in R millions)\n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020\n5 7 9 10 11 15 16 23 22 21\nThe company hired a business consultant who performed a regression analysis to\nestimate its future sales which yielded the following equation:\nY = 2.1x + 2.5 (R^2 = 0.93)\nThe consultant indicated that replacing 11 into the equation should yield the next\nyear\u2019s sales estimate, 12 for the year thereafter and so on. The estimate for 2021\nis R25.6 million.\nOne of the larger store managers indicated that they feel that it is overoptimistic\nas his store sales\u2019 has been flat over the past two years.\nRequired:\nBriefly advise the management of Tigers Ltd. on the objective forecasting\ntechnique used and argue who is correct in this case (support your argument with\nfacts from the question and theory).\n"}]}

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