State Division of Motor Vehicles (DMV) statistics show the rate of new driver's license applications to be as shown below:
a.Using a 3-week moving average, what is the forecast for the first week in April?
b.Using a 5-week moving average, what is the forecast for the first week in April?
Definitions:
Economic Analysis
The systematic examination of the costs and benefits associated with economic decisions, policies, or projects.
Price-Fixing Agreements
Illegal arrangements where competing businesses agree on pricing of goods or services, undermining free market competition.
Sherman Act
A foundational antitrust law in the United States that prohibits monopolistic practices and promotes competition.
Free Competition
An economic condition where businesses are allowed to compete without undue restrictions, encouraging innovation and fair prices.
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