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let us say that a retail chain (such as Target) wishes to forecast sales for a new store in a metro area where it has no stores

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let us say that a retail chain (such as Target) wishes to forecast sales for a new store in a metro area where it has no stores. But, Target has plenty of historical sales data for its similar size/layout stores in other metro areas.

1. How can we come up with a credible quantitative sales forecast, or would we use a qualitative method? Management has to come up a forecast to help it plan ahead and can’t just wait and see what happens before committing funds to build the store, yes? How would you approach this?

 
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