Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell C18 to compute the Seasonal Index value for quarter 1?
A) =SUM($B$3:$B$14)/COUNTIF($B$3:$B$14,B18)
B) =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18)
C) =SUMIF($B$3:$B$14,$G$3:$G$14)/COUNT($B$3:$B$14,B18)
D) =SUMIF($B$3:$B$14,B18)/COUNTIF($B$3:$B$14,B18)

Question

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.  
-Refer to Exhibit 11.11. What formula should be entered in cell C18 to compute the Seasonal Index value for quarter 1?
A) =SUM($B$3:$B$14)/COUNTIF($B$3:$B$14,B18) 
B) =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18) 
C) =SUMIF($B$3:$B$14,$G$3:$G$14)/COUNT($B$3:$B$14,B18) 
D) =SUMIF($B$3:$B$14,B18)/COUNTIF($B$3:$B$14,B18)

Quizplus · Accepted Answer

The formula for computing the seasonal index value for quarter 1 is the sum of the quarterly sales figures for quarter 1 in all 12 quarters divided by the average of the 12 quarters' sales figures. Therefore, the formula should be =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18). This formula calculates the sum of the sales figures for all quarters where the quarter is equal to 1 (B18) and divides that sum by the count of occurrences of the value 1 in the quarter column (B3:B14), which is 3.

Exhibit 11.11 The Following Questions Use the Data Below