In Determining Monthly Seasonal Indexes for Petrol Consumption, the Sum

question 147

Multiple Choice

In determining monthly seasonal indexes for petrol consumption, the sum of the 12 means for petrol consumption as a percentage of the moving average is 1230. To get the seasonal indexes, each of the 12 monthly means is to be multiplied by:

• A)1200 / 1230.
• B)1230 / 1200.
• C)(1230 + 1200) / 2.
• D)(1230 + 1200) / 12.

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Definitions:

Variance

Variance is a statistical measure that represents the degree of spread in a data set. It is calculated as the average of the squared differences from the Mean.

Fraction

A numerical quantity representing a part of a whole, typically expressed as a ratio of two integers.

Interval

A range between two points or numbers, often used to specify a particular segment of a scale or measurement.

Mean

A measure of central tendency calculated by summing all the values in a dataset and dividing by the number of values.