A Seasonal Index for a Monthly Series Is About to Be

question 92

Multiple Choice

A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data. The three previous July values were 110, 150, and 130. The average over all months is 190. The approximate seasonal index for July is

• A) 0.487
• B) 0.684
• C) 1.462
• D) 2.053
• E) cannot be calculated with the information given

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Definitions:

Normal Distribution

A symmetric probability distribution that is characterized by a bell-shaped curve, relevant in statistical analyses.

Test Statistic

A value computed from sample data used to determine whether to reject the null hypothesis in a statistical hypothesis test.

Confidence Interval

A scope of values from statistics of a sample, seen as likely to possess the value of an unspecified population feature.

Gas Mileage

The efficiency of a vehicle in terms of the distance traveled per unit of fuel consumed, typically measured in miles per gallon (mpg) or kilometers per liter (km/L).