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:

Normal Distribution

A statistical distribution which is evenly spread around the mean, indicating that occurrences close to the mean are more common than those further away.

Frequency Distributions

Showcases how often each different value in a set of data occurs.

Normal Distributions

A distribution that resembles the shape of a bell, symmetrically centered around the average, indicating that values close to the mean are more commonly observed than those further away from the mean.

Skewed

Describes a distribution of data that is asymmetrical, where the bulk of the values lie on one side of the mean, either to the right (positive skew) or to the left (negative skew).