If the Sum of Demands for 8 Time Periods Is

question 12

Multiple Choice

If the sum of demands for 8 time periods is 420 and the sum of the forecasts for the same periods is 500,MAD is

• A)0.8
• B)-8.0
• C)-10.0
• D)10.0

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Definitions:

Impulse Buying

A spontaneous, unplanned decision to buy a product or service, typically made right before a purchase.

Neoclassical Theory

An economic theory that focuses on how the perception of utility and costs influences supply and demand in markets, leading to an equilibrium.

Impulse Buying

A spontaneous, unplanned decision to buy a product or service made just before a purchase.

Hedonic Treadmill

The theory that people perpetually return to a relatively stable level of happiness despite major positive or negative events or life changes.