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

question 14

Multiple Choice

Use the data given below to answer the following question(s) .
The worldwide sales of cars from 1981-1990 are shown in the table below. Given: α = 0.2, γ = 0.05, and season length = 1. (Hint: Use XLMiner) . $$\begin{array} { | c | c | } \hline \text { Year } & \begin{array} { c } \text { Units sold in } \\\text { thousands }\end{array} \\\hline 1 & 750 \\\hline 2 & 823 \\\hline 3 & 1034 \\\hline 4 & 1945 \\\hline 5 & 1556 \\\hline 6 & 1300 \\\hline 7 & 1346 \\\hline 8 & 1150 \\\hline 9 & 967 \\\hline 10 & 1200 \\\hline\end{array}$$
-Calculate the value of the mean absolute percentage error using the Holt-Winters no-trend model for the given data.

• A) 8.10
• B) 18.39
• C) 21.70
• D) 10.97

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Definitions:

Downward-Sloping

A characteristic of demand curves where price and quantity demanded move in opposite directions.

ATC Curve

A graphical representation of the average total cost of producing various quantities of output, showing how unit costs change with changes in output level.

AVC Curve

A graph that represents the average variable cost of producing each quantity of output, showing how these costs vary with changes in output levels.

Short-Run Situation

A period in which at least one of a firm's inputs is fixed, limiting its capacity to adjust output levels quickly.