The Owner of Darkest Tans Unlimited in a Local Mall

question 86

Multiple Choice

The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand for the one new tanning booth based on the following historical data:

What is this month's forecast using the least squares trend line for these data?

• A)1,250
• B)128.6
• C)102
• D)158
• E)164

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Definitions:

Utility

The satisfaction or value obtained by consuming a good or service.

Disability Insurance

Insurance coverage that provides income to individuals who are unable to work due to a disability.

Expected Utility

A concept in economics and decision theory that involves making choices under uncertainty to maximize the expected satisfaction or benefit.

Expected Utility

The anticipated satisfaction or benefit derived from making a particular decision or taking a specific action under conditions of uncertainty.