Exhibit 11.14 The Following Questions Use the Data Below

question 93

Essay

Exhibit 11.14
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs help analyzing the data using a 2-month moving average.
-Refer to Exhibit 11.14. What formulas should go into cells B15:B18 and cells C15:C18 of the spreadsheet if a 2-month moving average forecasting model is used?

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Definitions:

Price

The financial sum necessary for acquiring a good or service.

Willingness to Pay

The utmost expenditure an individual is comfortable making on a good or service, demonstrating the value they attribute to it.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating economic welfare.

Market Price

The present cost at which a good or service can be purchased or sold within a competitive market.