Exam Review Math 29875 (Part 2)
1. Sales of a store are shown over the past 6 months
January
February
March
April
94
95
86
112
May
124
June
111
a) Prepare a forcast using a 2 month moving average approach
b) Predict the sales for July
c) Calculate MAD
2. In January 2001, the price for a whole fresh chicken was $1.99 per kilogram. In
September 2014, the price for the same chicken was $5.49. Use the January 2014 price
as the base period and 100 as the base value to develop a simple index. By what
percentage has the cost of chicken increased during the 10-year period?
3. The probability distribution of a random variable X is given in the table below.
Calculate the expected value, variance and standard deviation
X
1
2
3
4
P(x)
0.1
0.6
0.15
0.15