Question 4
This question relates to concepts covered in Lectures 1 & 2.
You can use any of the excel files posted to work through the question.
Suppose we have a data set containing n=100 data points with the following descriptive statistics: mean = 80, and standard deviation = 18. We believe that this data sample comes from a normal distribution. Which of the following choices would you use for forecasting or predicting future demand values?
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