The Dean of a School of Business Is Forecasting Total

question 70

Multiple Choice

The dean of a school of business is forecasting total student enrolment for this year's summer session classes based on the following historical data: What is this year's forecast using exponential smoothing with alpha = .4,if last year's smoothed forecast was 2600?

• A)2,600
• B)2,760
• C)2,800
• D)3,840
• E)3,000

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Definitions:

MC Curve

A graph representing the marginal cost of producing each additional unit of output in a firm or economy.

Monopolist

A monopolist is a sole provider of a good or service in a market, possessing significant control over prices and market conditions due to lack of competition.

Total Costs

The complete sum of expenses for the creation of goods or the delivering of services, including both unchanging and variable costs.

Total Revenue

The overall revenue produced from selling goods or services prior to subtracting any expenses.