Find the Midrange for the Given Sample Data $$\begin{array} { l l l l l l l l l l l l l l } 11 & 21 & 29 & 35 & 49 & 57 & 61 & 61 & 71 & 76 & 85 & 93 & 132 & 142\end{array}$$

question 82

Multiple Choice

Find the midrange for the given sample data.
-Listed below are the amounts of time (in months) that the employees of an electronics company have been working at the company. Find the midrange. $$\begin{array} { l l l l l l l l l l l l l l } 11 & 21 & 29 & 35 & 49 & 57 & 61 & 61 & 71 & 76 & 85 & 93 & 132 & 142\end{array}$$

• A) 65.5 months
• B) 76.5 months
• C) 61 months
• D) 65.9 months

Competence in calculating forecast accuracy using measures such as Mean Absolute Deviation (MAD), Mean Square Error (MSE), Mean Absolute Percentage Error (MAPE), and Root Mean Square Error (RMSE).

Understanding of weighted average model and its application in forecasting.

Knowledge of exponential smoothing model, including simple and double exponential smoothing.

Understanding the concept of regression analysis and its use in forecasting.

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Definitions:

Variable Costs

Expenses that fluctuate with the level of output or sales, such as raw materials and direct labor.

Fixed Costs

Costs that do not vary with the level of production or sales, remaining constant regardless of business activity levels.

Variable Costs

Costs that vary directly with the level of production or the volume of services provided.

Variable Costs

Variable costs are expenses that change in proportion to the activity of a business, such as costs for raw materials or production supplies.