Forecasting and Procurement at Le Club Franais du Vin1 case study

Determine if the retail price of the wines has an impact on the forecasting and order quantities. To conduct the analysis, categorise the wines into two groups: low price wines (3.25 to 9.99 Euros) and high price (greater than or equal to 10 Euros). Determine the order quantity for these two categories of wines listed in Exhibit 2 for the upcoming catalogue season using the empirical distribution.