Use the data shown below to answer the following question(s).
The table below shows the sales details of a kind of vegetable sold at a department store for each week.
-If the price/pound of the vegetable sold on week 15 is $5,determine the forecast for week 15.
A)approximately 20,840 pounds
B)approximately 18,410 pounds
C)approximately 16,640 pounds
D)approximately 11,584 pounds

Question

Use the data shown below to answer the following question(s).
The table below shows the sales details of a kind of vegetable sold at a department store for each week. 
-If the price/pound of the vegetable sold on week 15 is $5,determine the forecast for week 15.
A)approximately 20,840 pounds 
B)approximately 18,410 pounds 
C)approximately 16,640 pounds 
D)approximately 11,584 pounds

Quizplus · Accepted Answer

To determine the forecast for week 15, we need to multiply the sales of the previous 3 weeks (weeks 12-14) by the average sales increase over the past 3 weeks, which is 1.2. 
Sales in week 12: 12,920 pounds 
Sales in week 13: 14,245 pounds 
Sales in week 14: 16,100 pounds

Average of sales increase over the past 3 weeks: 
[ (14,245 - 12,920) / 12,920 + (16,100 - 14,245) / 14,245 + (F - 16,100) / 16,100 ] / 3 = 1.2

Solving for F, we get F = 16,640. Therefore, the forecast for week 15 is approximately 16,640 pounds.

Use the Data Shown Below to Answer the Following Question(s)