The following data represents quarterly sales of lawnmowers.Year Quarter 1 Quarter 2 Quarter 3 Quarter 41 150 140 190 1652 160 148 210 175What is the seasonal factor for the third quarter? (Round to the nearest hundredth.)Group of answer choices.30.20.22.26
Question
The following data represents quarterly sales of lawnmowers.Year Quarter 1 Quarter 2 Quarter 3 Quarter 41 150 140 190 1652 160 148 210 175What is the seasonal factor for the third quarter? (Round to the nearest hundredth.)Group of answer choices.30.20.22.26
Solution
To calculate the seasonal factor for the third quarter, we need to follow these steps:
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Calculate the total sales for each year. For year 1, the total sales are 150 + 140 + 190 + 165 = 645. For year 2, the total sales are 160 + 148 + 210 + 175 = 693.
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Calculate the total sales for the third quarter across all years. This is 190 (year 1) + 210 (year 2) = 400.
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Calculate the total sales across all quarters and all years. This is 645 (year 1) + 693 (year 2) = 1338.
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Calculate the seasonal factor for the third quarter. This is the total sales for the third quarter divided by the total sales across all quarters. So, 400 / 1338 = 0.299.
Rounding to the nearest hundredth, the seasonal factor for the third quarter is 0.30.
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