The Singapore Furniture Association has engaged your team service

Question 2

The Singapore Furniture Association has engaged your team service as there is an on-going sentiment within the board that the business for furniture retailers in Singapore is declining due to the increasingly preferred way of shopping for furniture directly from overseas via online shopping platforms such as Taobao, Lazada and Shopee, where consumers can ship their furniture directly from China. Your team has been engaged to provide insights based on data. Your team is provided with the retail sales index (RSI) that the association tracks regularly. Please refer to the Excel file “GBA_Q2_InputFile”.

    (a) Using an appropriate forecasting method, forecast the RSI from October 2021 to June 2022. You are required to provide comments on the data, justification for the method used and the essential steps in the forecasting process.

(25 marks)

    (b) Examine on your results in Question 2(a), provide the management a summary of the insight and highlight any concerns in your forecasting approach.

(35 marks)

Note: Do provide proper and adequate in-text citations and referencing to content drawn from course materials and other credible sources.