Use the Data Given Below to Answer the Following Question(s)

question 39

Multiple Choice

Use the data given below to answer the following question(s) .
The table provided below gives the sales details of the number of android smart phones at an electronic retail store for the past 6 weeks. The time series appears to be relatively stable, without trend, seasonal, or cyclical effects. (Hint: Optimize α value in 0.1 increments) $$\begin{array} { | c | c | } \hline \text { Week } & \text { Units sold } \\\hline 1 & 88 \\\hline 2 & 44 \\\hline 3 & 54 \\\hline 4 & 65 \\\hline 5 & 72 \\\hline 6 & 85 \\\hline\end{array}$$
-What is the difference between the forecasted and the actual value for the 3rd week?

• A) 1 phones
• B) 6 phones
• C) 4 phones
• D) 3 phones

Understand the concept of price elasticity and how changes in prices affect demand and supply.

Comprehend the role of pricing tactics in marketing and operations, including loss-leader and predatory pricing.

Explain different pricing objectives and factors influencing pricing decisions in marketing.

Understand the legal and ethical considerations in pricing, particularly in relation to price fixing and its impact on competition.

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Definitions:

Agrarian Societies

Societies primarily engaged in agriculture, with most of the economy based on farming and land cultivation.

Technologically Advanced Societies

Societies characterized by a high level of technological innovation and use, impacting various aspects of life including communication, transportation, and healthcare.

Hunter-gatherer Societies

Societies that rely on hunting wild animals and gathering uncultivated plants for survival instead of farming.

Base-10 Number System

The base-10 number system, also known as the decimal system, is a numbering system that uses 10 as its base and includes digits from 0 to 9.