Busn 278 Homework Es

. | Question : | (TCO 1) The type of budget that allows for adjustments to unpredictable changes is called a: |

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  | Student Answer: | |  static budget |

  | | |  flexible budget |

  | | |  continuous budget |

  | | |  master budget |

  | Instructor Explanation: | Chapter 1, Page 6 |

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  | Points Received: | 4 of 4 |

  | Comments: | |

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 2. | Question : | (TCO 2) Using the table “Paint Sales Time Series”, calculate the forecast for paint sales (in thousands) for Week 11 using a three day moving average. 

  Paint Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 6 |

2 | 8 |

3 | 10 |

4 | 9 |

5 | 11 |

6 | 12 |

7 | 10 |

8 | 8 |

9 | 7 |

10 | 9 |

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  | Student Answer: | |  8 |

  | | |  9 |

  | | |  10 |

  | | |  11 |

  | Instructor Explanation: | Chapter 15, Page 235(8 + 7 + 9) / 3 = 8 |

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  | Points Received: | 4 of 4 |

  | Comments: | |

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 3. | Question : | (TCO 2) Using the table “Paint Sales Time Series”, calculate the mean absolute deviation for a three day moving average. 

  Paint Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 6 |

2 | 8 |

3 | 10 |

4 | 9 |

5 | 11 |

6 | 12 |

7 | 10 |

8 | 8 |

9 | 7 |

10 | 9 |

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  | Student Answer: | |  2.67 |

  | | |  1.76 |

  | | |  2.54 |

  | | |  3.67 |

  | Instructor Explanation: | Chapter 15, Page 235MAD = Sum of Absolute Deviations / Count of Absolute DeviationsMAD = 12.33 / 7 = 1.76 |

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  | Points Received: | 0 of 4 |

  | Comments: | |

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 4. | Question : | (TCO 2) Using the table “Gasoline Sales Time Series”, calculate the forecast for gasoline sales (in thousands) for Week 13 using a three day weighted moving average. Use a weight of .60 for the most recent observation, .30 for the second most recent, and .10 for the third most recent.

  Gasoline Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 17 |

2 | 21...