Silly Putty Inc

question 1

Multiple Choice

Silly Putty Inc. has had sales of $12 million, $17 million, and $16 million for each of the last three years. What would be the MAPE if the actual sales were $15 million using the naïve approach?

• A) 6.71 percent
• B) 5.73 percent
• C) −8.14 percent
• D) −6.67 percent

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Definitions:

Equal Protection

A constitutional principle that requires states to govern impartially, not drawing distinctions between individuals solely on differences that are irrelevant to a legitimate governmental objective.

Rational Relationship Test

A legal principle used to determine the constitutionality of a statute, requiring that the law be reasonably related to a legitimate government interest.

Strict Scrutiny Test

A judicial review standard applied to certain laws that potentially infringe upon constitutionally protected rights, requiring the law to be necessary to achieve a compelling governmental interest.

Intermediate Standard Test

A method used in legal contexts to determine the constitutionality of certain laws, requiring that the law serves an important government objective and is substantially related to achieving that objective.