Motor Oil Sales

question 10

Essay

Motor Oil Sales
As part of an effort to forecast future sales,the monthly motor oil sales (in thousands of gallons)for the past 10 months are recorded.These data are shown below. ​ ​
-{Motor Oil Sales Narrative} Draw the time series and the two sets of exponentially smoothed values.Does there appear to be a trend component in the time series?

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Definitions:

Fixed Factory Overhead

The consistent, non-variable expenses incurred by a manufacturing plant, which are required to maintain the production process but do not fluctuate with the level of output.

Operating Expense

Costs associated with the day-to-day running of a business, such as rent, utilities, and salaries, but excluding the cost of goods sold.

Normal Selling Price

The regular price at which a good or service is typically sold, excluding any discounts or promotional offers.

Demand-Based Method

A method of price setting based on the demand for the product.