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- (TCO 1) As compared to long-range forecasts, short-range forecasts
- (TCOs 3 and 4) A fundamental distinction between trend projection and linear regression is that
- Weekly sales of 10-grain bread at the local organic food market are provided in the table below. Based on these data, forecast Week 9 using a 6-week moving average.
- Week Sales (1) 415 (2) 389 (3) 420 (4) 382 (5) 410 (6) 432 (7) 405 (8) 421
- (TCOs 3, 4, and 5) An innovative restaurateur owns and operates a dozen “Ultimate Low-Carb” restaurants in northern Arkansas. His signature item is a cheese-encrusted beef medallion wrapped in lettuce. Sales (x, in millions of dollars) is related to profits (y-hat, in hundreds of thousands of dollars) by the regression equation y-hat = 7.21 + 0.83x. What is your forecast of profit for a store with sales of $40 million? $50 million?