Consider the following data:

Yearly Sales at the Local Gift Shop (in Dollars)
Year	2000	2001	2002	2003	2004	2005	2006	2007	2008
Sales	664437
577363
541512
587159
745308
557468
745545
604517
617367

Step 2 of 2 :  Find the three-period moving average for year 2008. If necessary, round to one more decimal place than the largest number of decimal places given in the data.

To find the three-period moving average for the year 2008, we'll calculate the average of the sales from the three years immediately preceding 2008: 2007, 2006, and 2005.

Here are the sales figures for those years:

- 2007: 604,517
- 2006: 745,545
- 2005: 557,468

### Three-Period Moving Average Calculation:
\[
\text{Three-Period Moving Average} = \frac{604,517 + 745,545 + 557,468}{3}
\]

Let's calculate this:

\[
\text{Three-Period Moving Average} = \frac{1,907,530}{3} = 635,843.33
\]

Thus, the three-period moving average for the year 2008 is **$635,843.33**.

Would you like further details, or have any questions about this calculation? Here are some related questions you might consider:

1. How would you calculate the four-period moving average?
2. What would the three-period moving average be for the year 2007?
3. Can you explain the purpose of using a moving average in data analysis?
4. How does a moving average help in identifying trends?
5. How would you calculate a weighted moving average?

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

Find the three-period moving average for the year 2008 based on the yearly sales data provided for the local gift shop from 2000 to 2008. Round to one more decimal place than the largest number of decimal places given in the data.

Learn how to calculate the three-period moving average for the year 2008 based on the sales data from a local gift shop. This problem involves key statistical concepts, including moving averages, and is suitable for students in Grades 9-12.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation