Question: PROBLEMS FOR SECTIONS 5 . 1 AND 5 . 2 Suppose that Mac only kept track of the number of magazines sold. Would this give
PROBLEMS FOR SECTIONS AND
Suppose that Mac only kept track of the number of magazines sold. Would this give an
accurate representation of the demand for the Journal? Under what circumstances would
the actual demand and the number sold be close, and under what circumstances would
they differ by a substantial amount?
What is the difference between deterministic and random variations in the pattern of
demands? Provide an example of a real problem in which predictable variation would be
important and an example in which random variation would be important.
Oakdale Furniture Company uses a special type of woodworking glue in the assembly of
its furniture. During the past weeks, the following amounts of glue in gallons were
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