Question: Bob's Fly cataiog collected forecasts, sales, and demand data for 2 0 items in one category from its previous catalog. The data is provided below
Bob's Fly cataiog collected forecasts, sales, and demand data for items in one category from its previous catalog. The data is provided below in the table.For example, their forecast for the first item in the table was units, but it unfortunately only sold units. However, with the last item listed, they sold units but could have sold units if they had ordered enough inventory. For the next cataiog, they have an item for which they forecast demand to bo units. Suppose they will use that forecast along with the data in the above table to choose a normal distribution to model demand for this product. What standard deviation should they choose? Keep the answer as an inveger.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
