Refer to the Statistics in Context section concerning the flower importer. (a) Suppose it takes the importer
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(a) Suppose it takes the importer two months to pay his invoices. Proceed by taking the sum of the adjacent one-month differences to obtain the two-month differences. Make a histogram of these differences two months apart. (The two-month differences may not be independent but the histogram is the correct summary of uncertainty for some two-month period in the future.)
(b) Compare your histogram in part (a) with that for the one-month changes. Which is more variable?
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Statistics Principles And Methods
ISBN: 9780470904114
7th Edition
Authors: Richard A. Johnson, Gouri K. Bhattacharyya
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