Using a Three-Month Moving Average, the Forecast Value for October

question 59

Multiple Choice

Using a three-month moving average, the forecast value for October made at the end of September in the following time series would be ____________. $$\begin{array} { | r | r | } \hline \text { July } & 5 \\\hline \text { Amg } & 11 \\\hline \text { Sent } & 13 \\\hline \text { Oct } & 6 \\\hline\end{array}$$

• A)11.60
• B)10.00
• C)9.07
• D)8.06
• E)9.67

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Definitions:

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit.

Output

The total amount of products or services produced by a company, industry, or economy within a specific period.

Price

The amount of money required to purchase a good or service; the value that must be exchanged to obtain a particular item.

Perfect Competitor

A firm in a perfectly competitive market, where there are many buyers and sellers, all products are identical, and no single buyer or seller can influence the market price.