What mean and standard deviation should be for this item

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Sportsman Inc. has recorded forecasts, sales and actual demand data for different products in the table. For example, the forecast for the second item in the table was 500 units, but it only sold 135 units. For the next selling season, they have an item for which they forecast demand to be 400 units. Suppose they will use that forecast along with the data in the table to choose a normal distribution to model demand for this product. What mean and standard deviation should be for this item?

Reference no: EM131646787

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