Exhibit 11.6 The Following Questions Use the Data Below

question 51

Multiple Choice

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What formula should be entered in cell I16 to compute the forecast for time period 14?

• A) =I15+2*$H$14
• B) =G14+B16*H14
• C) =G14+3*H14
• D) =G12+H12

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Definitions:

Economic Profit

The differentiation between a business entity's gross revenue and its comprehensive costs, factoring in both explicit and implicit expenses.

Purely Competitive

Describes a market structure where many firms sell identical products, and no single seller can influence the market price.

Short Run

Within the field of economics, a timeframe where a company has at least one input that remains constant and unalterable.

Total Revenue

The entire revenue a company earns from selling products or services before deducting any costs.