Discuss the below:
Q: A major source of revenue in Texas is a state sales tax on certain types of goods and services. Data are compiled and the state comptroller uses them to project future revenues for the state budget. One particular category of goods is classified as retail trade. Four years of quarterly data (in millions) for one particular area of southeast Texas are below. Determine the best forecasting technique for this data and use it to forecast sales for each quarter of year 5.
Year 1 Year 2 Year 3 Year 4
Q 1 214 225 234 250
Q 2 247 254 265 283
Q 3 243 255 255 289
Q 4 292 302 327 367