Exhibit 11.11 The Following Questions Use the Data Below

question 5

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 C18 to compute the Seasonal Index value for quarter 1?

• A) =SUM($B$3:$B$14)/COUNTIF($B$3:$B$14,B18)
• B) =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18)
• C) =SUMIF($B$3:$B$14,$G$3:$G$14)/COUNT($B$3:$B$14,B18)
• D) =SUMIF($B$3:$B$14,B18)/COUNTIF($B$3:$B$14,B18)

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Definitions:

Refuses to Pay

Describes a situation where an individual or entity declines or fails to fulfill a financial obligation, such as debts or invoices.

Accepted Goods

Items that have been received and approved by a buyer, indicating satisfaction with their condition according to the terms of the purchase agreement.

Repudiated the Contract

A situation where one party refuses to fulfill their obligations under the contract, effectively renouncing or rejecting it.

Contract Obligations

Duties that are legally binding and arise from agreements made between parties to perform or refrain from performing certain acts.