1 use the following data for the next three questions-which, Ask an Expert

Management Studies

1. Use the following data for the next three questions:

-Which of the four forecasts seems to have the most bias?

-Which of the above forecasts has lowest magnitude in relative terms?

-Which of the above forecasts will have the highest magnitude in actual (absolute) terms?

2. A product has a mean demand of 50 with a standard deviation of 4. If the retailer wants to maintain a 99% customer service, how many units will they need to keep in stock?

3. If a product has a mean demand of 85 with a standard deviation of 13, if the customer holds 106 units in stock, what would the customer service be?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92557288

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