Data on Demand Over the Last Few Years Are Available

question 143

Short Answer

Data on demand over the last few years are available as follows: $$\begin{array} { l l } \text { Time Period } & \text { Demand } \\\hline 7 \text { years ago } & 7 \\6 \text { years ago } & 28 \\\text { 5 years ago } & 21 \\\text { 4 years ago } & 42 \\\text { 3 years ago } & 35 \\\text { 2 years ago } & 56 \\\text { Last year } & 49\end{array}$$ What is this year's forecast using trend-adjusted (double) smoothing with alpha = .2 and beta = .1, if the forecast for last year was 56, the forecast for two years ago was 46, and the trend estimate for last year's forecast was 7?

Appreciate the significance of internal reports in managerial decision-making and their characteristics.

Understand the differences between managerial and financial accounting in terms of purpose, audience, and report content.

Recognize planning as a key function of management that involves setting objectives for performance.

Understand the concept of GDP and real GDP, including their calculation and interpretation.

---

Definitions:

Social Responsibility Norm

A societal rule that people should help those who need assistance, without regard to future exchanges.

Dispositional Attributions

The tendency to attribute someone's behavior to their internal qualities or personality traits rather than to external factors.

Situational Attributions

The process of attributing behavior to external factors in the environment or situation, rather than to internal personality traits.

Prosocial Behavior

Acts that are intended to benefit others, such as helping, sharing, donating, co-operating, and volunteering.