Prices of Crude Oil Have Been Steadily Rising Over the Last

question 105

Multiple Choice

Prices of crude oil have been steadily rising over the last two years (The Wall Street Journal,December 14,2010) .The monthly data on price per gallon of unleaded regular gasoline in the United States from January 2009 to December 2010 were available.Three trend models were created,and the following relevant information became available. Using the cubic trend equation,which of the following would be the forecast for the price of regular unleaded gasoline for January 2011?

• A) $3.00
• B) $3.09
• C) $3.15
• D) $3.22

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Definitions:

Support Department

Units within an organization that provide essential services or support to the production departments but do not directly engage in primary operations.

Service Departments

Units within a business not directly involved in primary operations but support other departments, e.g., HR and IT.

Support Departments

Units within an organization that provide essential services or support to the primary production or operational departments.

Production Departments

Departments within a company responsible for the manufacturing or production of goods.