Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Apr 18, 2024

If you are constructing a forecast of demand for next period based on historical data and you calculate the mean and +/- 1 std deviation.

If you are constructing a forecast of demand for next period based on historical data and you calculate the mean and +/- 1 std deviation. How likely is the actual demand for next period going to be within that range?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Management Science

Authors: Wayne L. Winston, Christian Albright

5th Edition

1305631540, 1305631544, 1305250907, 978-1305250901

More Books

Students also viewed these General Management questions

Question

Risk Management and Derivatives Assignment. Excel file is for working outs/calculations. Must show formulas used also. Please submit completed assessment on excel spreadsheet and not a pdf. Thank...

Answered: 1 week ago

Question

★★★★★

The cause of the potential barrier in a p-n diode is (a) depletion of positive charges near the junction (b) concentration of positive charges near the junction (c) depletion of negative charges near...

Answered: 1 week ago

Question

★★★★★

1. In the absence of cannibalization, the sales of existing eTech products are expected to produce year 1 net revenues of $10 million, and the fore-cast of the annual increase in net revenues is 2%....

Answered: 1 week ago

Question

★★★★★

Consider a post office with two employees and a single waiting line. On average, the inter-arrival time is 6 minutes. Standard deviation of inter-arrival time is 3.94 minutes. Average service time is...

Answered: 1 week ago

Question

★★★★★

A lid with negligible weight is suddenly placed on a pan of boiling water and the heating is turned off. After about an hour, thermal equilibrium is reached between the water and the atmosphere,...

Answered: 1 week ago

Question

★★★★★

2. An understanding of interpersonal communication

Answered: 1 week ago

Question

★★★★★

Suppose that in a painting exhibition, 96% of the exhibits are genuine, while the remaining 4% are fake. A painting collector can identify a genuine painting as such with a probability 90%, while if...

Answered: 1 week ago

Question

★★★★★

LampArt Co. makes specialty table lamps. Manufacturing overhead is applied to production on a direct labor hours basis. During November, the first month of the companys fiscal year, $173,250 of...

Answered: 1 week ago

Question

★★★★★

High-Low Method for a Service Company Continental Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of...

Answered: 1 week ago

Question

★★★★★

Ethan is the leader of a team with N members. He has assigned an error score to each member in his team based on the bugs that he has found in that particular team member's task. Because the error...

Answered: 1 week ago

Question

★★★★★

(3x+25) 2x 65 5. Find the measure of each of the numbered angles. Explain your reasoning for each angle. G D 63 2 5 E 3/110 6. From the diagram, find a) the length of BC. b) mZA. Give reasons for...

Answered: 1 week ago

Question

★★★★★

Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890; and the building is appraised...

Answered: 1 week ago

Question

★★★★★

urgent! urgent please! business law, case study, Amit and Amita were husband and wife and was always quarrelling amongst each other amit promises to pay Rs. 50,000 to Amita as monthly expenses and...

Answered: 1 week ago

Question

★★★★★

Consider the following table for this question. 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 This array was declared with this statement: int colors = new int[4][5]; Write a single line of...

Answered: 1 week ago

Question

★★★★★

1) If Bellevue was using Class B private addresses for internal computers and they had 16 departments where each department had their own subnet, how many computer hosts could be in each department...

Answered: 1 week ago

Question

★★★★★

1-25 Strategic decisions and management accounting. A series of independent situations in which a firm is about to make a strategic decision follow. Decisions: a. Roger Phones is about to decide...

Answered: 1 week ago

Question

★★★★★

How many years will the following take? $528 to grow to $24,667 if invested at 11.17 percent, compounded annually. Round the answer to two decimal places. USE EXCEL

Answered: 1 week ago

Question

★★★★★

Could a set of three vectors in span all of? Explain. What about n vectors in when n is less than m? R4

Answered: 1 week ago

Question

★★★★★

At the beginning of year 1, you have $10,000. Investments A and B are available; their cash flows are shown in the file P04_62.xlsx. Assume that any money not in-vested in A or B earns interest at an...

Answered: 1 week ago

Question

★★★★★

The 7th National Bank has two check-processing sites. Site 1 can process 10,000 checks per day, and site 2 can process 6000 checks per day. The bank processes three types of checks: vendor, salary,...

Answered: 1 week ago

Question

★★★★★

You are scheduling company interviews at the annual university career fair. Five interview rooms are avail-able. Interviews are conducted from 9 am to 5 pm. Each company wants all of its interviews...

Answered: 1 week ago

Question

★★★★★

In 1990, Business Week magazine compiled financial data on the 1,000 companies that had the biggest impact on the U.S. economy. Data from this compilation were presented in Problem 13 of Chapter 8....

Answered: 1 week ago

Question

★★★★★

Radial keratotomy is a type of refractive surgery in which radial incisions are made in the cornea of myopic (nearsighted) patients in an effort to reduce their myopia. Theoretically, the incisions...

Answered: 1 week ago

Question

★★★★★

In an analysis of daily soil evaporation (EVAP), Freund (1979) identified the following predictor variables: MAXAT = Maximum daily air temperature MINAT = Minimum daily air temperature AVAT =...

Answered: 1 week ago

Previous Question Next Question