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O Neill sells the same 3 mm boot for surfing every year. Because this is a functional product with little fashionable content, O Neill believes
ONeill sells the same mm boot for surfing every year. Because this is a functional product with little fashionable content, ONeill believes that this is a stable product, ie expected demand doesnt change from year to year. However, sales are concentrated in a short period during the summer. ONeill plans to use sales data from the last five years to forecast demand this year. Those data are and Note, due to the short selling season, in two of the seasons ONeill ran out of boots, whereas in three of those seasons ONeill had boots left over at the end of the season and they were held over until the next season. What is the mean of the demand forecast?
Question options:
The mean of O'Neill's demand forecast should equal
The mean of O'Neill's demand forecast should be greater than
The mean of O'Neill's demand forecast should be less than
It is not possible to determine whether O'Neill's forecast should be greater than or less than
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