There Are Three Shopping Locations with 300,500,and 1,000 Square Feet

question 30

Multiple Choice

There are three shopping locations with 300,500,and 1,000 square feet of space allocated to lighting accessories.A group of potential customers lives 5 minutes from the first location,10 minutes from the second location,and 15 minutes from the third location.The retailer estimates the effect of travel time to be 2.The probability of consumers shopping at location 2 is _____.

• A)17
• B)21
• C)23
• D)42

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Definitions:

Seasonal Indices

Factors used to adjust data to compensate for predictable fluctuations that occur regularly within a specific period, such as monthly or quarterly.

MAD

Acronym for Mutual Assured Destruction, a doctrine of military strategy and national security policy which posits that a full-scale use of nuclear weapons by two or more opposing sides would cause the complete annihilation of both the attacker and the defender.

Naive Forecast

A forecasting method that assumes future values will be the same as the most recent actual value, used as a baseline for more complex forecasts.

Seasonal Factors

Components or influences that cause regular and predictable changes or patterns in data or business activity corresponding to specific seasons or times of the year.