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Based on the past twenty months, an event decorating company develops a trend equation for forecasting sales revenue (y) where y = 4.38 + 1.32x.
If month 21 has a seasonal factor of times 1.07, then what is the forecast for the month, using a multiplicative model? Give your answer to two decima places.
Suggested Answer: A
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39 comments · newest first
BU
Bulah
11 months ago
Totally agree, 54.54 makes sense with the trend!
JE
Jesse
11 months ago
Wait, are we sure about that seasonal factor? Sounds a bit high.
ER
Ernie
11 months ago
I calculated it and got 54.54. Seems right!
KR
Krissy
12 months ago
I think the seasonal factor will really boost those numbers!
MA
Marjory
12 months ago
The trend equation gives us y = 4.38 + 1.32(21).
LI
Ling
1 year ago
I feel like I’ve seen a question like this before, and I think the final answer should be rounded to two decimal places. I’ll double-check my calculations!
CA
Casie
1 year ago
Yes, I think that's right, but I can't remember if we add or multiply the seasonal factor after that. I hope I get it right!
DO
Donte
1 year ago
I'm a bit unsure about how to calculate the trend value first. Is it just plugging in x = 21 into the equation?
SO
Soledad
1 year ago
I remember we practiced a similar question where we had to apply a seasonal factor to a trend equation. I think I need to multiply the result by 1.07 after finding y.
CR
Craig
1 year ago
Wait, I'm not sure I'm following this correctly. What's the difference between a trend equation and a multiplicative model? I better re-read the question carefully to make sure I understand what I'm supposed to do here.
MO
Mose
1 year ago
Alright, I've got this. The trend equation is y = 4.38 + 1.32x, and the seasonal factor is 1.07. I'll plug in the month 21 value, do the calculation, and round to two decimal places. Easy peasy.
ST
Stefania
1 year ago
This seems straightforward enough. I'll just plug the values into the equation, y = 4.38 + 1.32x, and then multiply by the seasonal factor of 1.07. Should be a pretty quick calculation.
AL
Alana
1 year ago
Hmm, I'm a bit confused by the wording here. What exactly is a "multiplicative model"? I'll need to make sure I understand that before I can solve this.
LA
Lavera
1 year ago
Okay, let's think this through step-by-step. We have a trend equation for forecasting sales revenue, and we need to apply a seasonal factor to get the forecast for month 21. Looks like I'll need to plug the values into the equation and then multiply by the seasonal factor.
GE
Gerald
1 year ago
I think the preferred resource service objective and adding the technician as a preferred resource on the account record are the two best options here. That should ensure the original technician gets assigned to any follow-up work.
CA
Casey
1 year ago
This type of question is a good opportunity to apply my knowledge of conditional statements and logical operators. I'll work through it step-by-step to arrive at the correct solution.
RU
Rupert
1 year ago
Okay, I think I've got this. The key is to determine the correct way to increase the capital accounts based on the fair market value of the contributions.
JA
Janine
1 year ago
Woohoo, time to put my mad math skills to the test! This is gonna be a piece of cake. (Or is it pie? I can never remember.)
RU
Rueben
1 year ago
Great job! Looks like your math skills are on point.
WI
Winfred
1 year ago
That makes sense, the seasonal factor of 1.07 multiplied by the trend equation gives us 44.44
RA
Rana
1 year ago
I agree, the forecast for the month using a multiplicative model is 44.44
TR
Troy
1 year ago
I think the answer is C) 44.44
NG
Nguyet
1 year ago
I bet the answer is 44.44. It just sounds right, you know? But I should probably double-check my work just in case.
DE
Denny
1 year ago
I also got 54.54 as the answer. Let's make sure we're on the right track.
AS
Ashley
1 year ago
I'm not so sure, I calculated it and got 54.54. Maybe we should double-check our work.
JE
Jeannetta
1 year ago
I think the answer is 44.44 too. It does seem like the most logical choice.
BE
Bernardine
1 year ago
Well, this is making my brain hurt. I hope I can remember the right formula for the multiplicative model.
DE
Demetra
1 year ago
That's correct! The answer is C) 44.44.
OC
Ocie
1 year ago
So, the forecast for month 21 would be 44.44.
LE
Leanora
1 year ago
I think we need to use the formula y = (4.38 + 1.32x) * 1.07 for the multiplicative model.
CU
Curtis
2 years ago
Okay, let's see... The trend equation is y = 4.38 + 1.32x, and the seasonal factor is 1.07. Time to plug and chug!
CL
Cletus
1 year ago
32.10 * 1.07 = 34.34, so the forecast for the month is 34.34. The answer is A) 34.34.
TI
Tijuana
1 year ago
Now, we multiply the forecasted value by the seasonal factor of 1.07.
EL
Elden
1 year ago
So, y = 4.38 + 1.32 * 21 = 4.38 + 27.72 = 32.10
CO
Cory
1 year ago
I think we need to plug in x = 21 into the trend equation first.
TE
Terry
2 years ago
Hmm, this looks like a tricky one. I'll need to carefully work through the math to get the right answer.
BE
Bernardo
2 years ago
I calculated it too, and I also got B) 54.54 as the forecast.
SH
Shoshana
2 years ago
I agree with Lilli, the seasonal factor of 1.07 should increase the forecast.
LI
Lilli
2 years ago
I think the answer is B) 54.54.