Maureen Added a Trendline to a Chart That Shows Sales

question 25

True/False

Maureen added a trendline to a chart that shows sales trends for the past 10 years. To extend the trendline to forecast sales for the next two years, she enters 2 in the Backward box in the Format Trendline pane.

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Definitions:

Positively Sloped

A line or curve on a graph that moves upward and to the right, indicating a direct relationship between two variables.

Negatively Sloped

Describes a line on a graph that moves downward from left to right, indicating an inverse relationship between two variables.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total benefits to society from the trade of a good or service.

Consumer Surplus

The difference between the maximum price consumers are willing to pay for a good or service and the actual price they pay.