Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data are for one such item, which is not seasonal.
a. Use trend projection to estimate the relationship between time and sales (state the equation).
b. Calculate forecasts for the first four months of the next year.
Definitions:
Integrity Management
A framework for ensuring that organizational practices adhere to a set of ethical standards and principles.
Global Reporting Initiative
An international independent organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption.
Balanced Scorecard
A strategic planning and management system used by organizations to communicate what they are trying to accomplish, align day-to-day work with strategy, prioritize projects, and measure and monitor progress towards strategic targets.
OCEG Benchmarking
A process used by organizations to compare their GRC (governance, risk management, and compliance) processes and performance with others in the industry, facilitated by the OCEG (Open Compliance and Ethics Group).
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