Exhibit 11.9 The Following Questions Use the Data Below

question 46

Multiple Choice

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. What is the Input Y Range in the Regression command settings dialog box?

• A) B3:B14
• B) C3:C14
• C) D3:D14
• D) B3:D14

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Definitions:

Allocative Efficiency

A state of the economy in which production is in line with consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.

Production Methods

Various techniques and processes used to create goods and services.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; specifically, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.

Production Possibilities Curve

A visual diagram illustrating the highest potential production mixes of two products or services that an economy can reach when it uses all its resources in a completely efficient manner.