Exhibit 11.14 The Following Questions Use the Data Below

question 94

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 is the forecast for time periods 13-15?

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Definitions:

Main Effect

The overall impact of an independent variable on a dependent variable in an experiment, analyzing the significant changes or differences.

Factor B

A variable or element in an experiment or model that is manipulated to determine its effect on outcomes, often used in factorial designs.

Interaction Effect

Occurs when the effect of one independent variable on the dependent variable differs depending on the levels or values of another independent variable.

F-Ratio

The ratio used in analysis of variance (ANOVA) to compare the variance between groups to the variance within groups.