The Dean of a School of Business Is Forecasting Total

question 72

Multiple Choice

The dean of a school of business is forecasting total student enrollment for this year's summer session classes based on the following historical data: $$\begin{array} { l l } \text { Year } & \text { Enrollment } \\\hline \text { Four years ago } & 2000 \\\text { Three years ago } & 2200 \\\text { Two years ago } & 2800 \\\text { Last year } & 3000\end{array}$$ What is this year's forecast using the least squares trend line for these data?

• A) 3,600
• B) 3,500
• C) 3,400
• D) 3,300
• E) 3,200

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Definitions:

Special Order

A unique, one-time order or request from a customer, often requiring customized production or handling outside of regular operations.

Capacity

Capacity refers to the maximum amount of work or output a system is capable of achieving in a given period under normal conditions.

Sales Price

The amount of money charged for a product or service; the price for which something is sold.

Production Cost

The total expense involved in manufacturing a product or providing a service, including raw materials, labor, and overhead costs.