Question

Given below is a series of weekly demand data the Z company collected on one of its products and forecast for the corresponding weeks, made by forecast model 1, which the company is testi.

Answer 1

A demand schedule is a table that shows the relationship between price and quantity demanded for a certain good or service. Economists use this data to create a demand curve that illustrates how changes in price affect the quantity of goods demanded.

Step-by-step explanation:

A demand schedule is a table that shows a range of prices for a certain good or service and the quantity demanded at each price. It helps economists understand how price changes affect the quantity of goods demanded. By plotting the data from a demand schedule on a graph, economists can create a demand curve that illustrates the relationship between price and quantity demanded.