Exhibit 11.1 The Following Questions Use the Data Below

question 60

Multiple Choice

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What Excel function will compute the mean squared error in cell C18 of the spreadsheet?

• A) =SUMXMY2(B7:B14,C7:C14)
• B) =SUMXMY2(B3:B14,C3:C14)/COUNT(C3:C14)
• C) =SUMXMY2(B7:B14,C7:C14)/COUNT(C7:C14)
• D) =SUMPRODUCT(B7:B14,C7:C14)/COUNT(C7:C14)

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Definitions:

Petty Cash Account

A small amount of cash kept on hand for making minor business expenses, managed through a system of vouchers for tracking.

Receipts

Documents that acknowledge the receipt of goods or services or the receipt of money.

Currency

The currency system predominantly employed within a specific nation.

Cash Overage

A situation where the amount of cash on hand exceeds the expected amount, often referring to excess cash reported in a cash register.