Kayla and Kingston Run a Shuttle Service from Water Tower

question 108

Multiple Choice

Kayla and Kingston run a shuttle service from Water Tower Place to Chicago O'Hare airport. Last month, they recorded the following: Kayla and Kingston's gross profit for the past month was

• A) $682.00
• B) Kayla: $341.00; Kingston: $341.00
• C) $1250.00
• D) $2750.00

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Definitions:

Exponential Smoothing

A weighted moving average method that is used in time series forecasting to smooth out data and predict future points.

Three-Month Moving Average

An average calculation that updates by incorporating the most recent three months' data and dropping the oldest month in each new calculation.

Linear Regression

A statistical method for modeling the relationship between a dependent variable and one or more independent variables.

Associative Variables

Factors in statistical analysis that are linked or related in such a way that their values change together in a predictable pattern.