A cell phone service provider has 14,000 customers. Recently, the sales department selected a random sample of 400 customer accounts and recorded the number of minutes of long distance time used during the previous billing period.
The data for this variable is considered to be nominal since the values are based on sample data. Indicate whether the statement is true or false
Question 2
The data for the number of guitars sold for the past 6 weeks are 25 units, 20 units, 25 units, 25 units, 20 units, and 18 units respectively.
The time series appears to be relatively stable, without trend, seasonal, or cyclical effects; thus, a moving average model would be appropriate. Setting k = 3 the three-period moving average forecast for week 7 is ________.A) 18 units
B) 21 units
C) 25 units
D) 19 units
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