Exhibit 11.11 The Following Questions Use the Data Below

question 23

Multiple Choice

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell H3 to compute the Seasonal Forecast value for year 1 Quarter 1?

• A) =F3*VLOOKUP(B3,$B$18:$C$21,2)
• B) =F3*HLOOKUP(B3,$B$18:$B$21,2)
• C) =F3*VLOOKUP(B3,$B$18:$B$21,2)
• D) =F3*VLOOKUP(B3,$C$18:$C$21,2)

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Definitions:

Good-faith Purchaser

A good-faith purchaser is an individual or entity that buys property without knowledge of any existing claims or defects against it, thereby gaining legal protection.

Fair Market Value

The price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.

Repair Shop

A business dedicated to fixing and maintaining vehicles, electronics, or other machinery.

Goods In Bailment

Purchased goods that are in some kind of storage under the control of a third party, such as a warehouseman.