Exhibit 11.11 The Following Questions Use the Data Below

question 5

Multiple Choice

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. 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 11.11. What formula should be entered in cell C18 to compute the Seasonal Index value for quarter 1?

• A) =SUM($B$3:$B$14)/COUNTIF($B$3:$B$14,B18)
• B) =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18)
• C) =SUMIF($B$3:$B$14,$G$3:$G$14)/COUNT($B$3:$B$14,B18)
• D) =SUMIF($B$3:$B$14,B18)/COUNTIF($B$3:$B$14,B18)

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Definitions:

High Cholesterol

A condition characterized by elevated levels of cholesterol in the blood, which can increase the risk of heart disease.

Demand Shift

A change in the quantity of a product or service that consumers are willing and able to buy, due to factors such as price, consumer preferences, or income changes.

Equilibrium Price

the price at which the quantity of goods supplied equals the quantity of goods demanded, reaching a state of market balance.

Demand Increase

A situation where the desire and willingness to purchase a good or service grows, often resulting in higher prices.