Consider the following data:



Monthly Profit of a GymMonth

Jan-12

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

Sep-12

Profit ($)

5,3505,350

5,1035,103

4,8244,824

4,4374,437

5,0805,080

5,3585,358

5,8195,819

6,0916,091

5,8375,837

Step 1 of 5 :  

Determine the three-period moving average for the next time period. If necessary, round your answer to one decimal place.




To determine the three-period moving average for the next time period, we need to calculate the average of the last three months of profit data. The last three months provided are:

- **July 2012**: $5,819
- **August 2012**: $6,091
- **September 2012**: $5,837

The three-period moving average is calculated as follows:

\[
\text{Three-period moving average} = \frac{5,819 + 6,091 + 5,837}{3}
\]

Let's compute the average:

\[
\text{Three-period moving average} = \frac{17,747}{3} \approx 5,915.7
\]

So, the three-period moving average for the next time period is **$5,915.7**.

Would you like further details or have any questions? Here are five related questions you might consider:

1. How does a moving average help in forecasting future profits?
2. What would be the impact of an outlier in the profit data on the moving average?
3. How would you calculate a five-period moving average?
4. What is the difference between a simple moving average and an exponential moving average?
5. How can moving averages be used to identify trends in the data?

**Tip:** Moving averages are useful for smoothing out short-term fluctuations and highlighting longer-term trends in data.

Learn how to calculate the three-period moving average for gym profit data using the latest monthly figures. Understand the importance of moving averages in smoothing data trends and forecasting future profits. Suitable for advanced high school students and beyond.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation