Exhibit 11.4 The Following Questions Use the Data Below

question 113

Multiple Choice

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What are predicted sales for time period 13 using the data in the spreadsheet?

• A) 915 ≤ predicted sales < 916
• B) 916 ≤ predicted sales < 917
• C) 991 ≤ predicted sales < 992
• D) 1045 ≤ predicted sales < 1046

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Definitions:

Free-Trade Policy

A policy to eliminate import/export restrictions or tariffs among countries, facilitating a more free flow of goods and services across borders.

Exporting Steel

The process of producing steel in one country and selling it to buyers in another country.

Importing Incense

The process of bringing incense from foreign countries into one's own country for use, resale, or distribution.

Consumer Surplus

The imbalance between what consumers are willing and financially able to invest in a good or service against what they really spend.