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Method is the ?rst of two methods proposed by Mantrala and Rao (2001) and has been reviewed in Section 2.We use a simpli?ed version, with ?xed prices and for a single period. Furthermore, instead of asking the experts to reach consensus on the minimum, maximum and modus of the demand and then taking the average of these three consensus ?gures as the forecast, we calculate the averages over the minima, maxima and modi from all experts (thereby weighing their forecasts equally).
This method is included for two reasons. First, inclusion of this method in our study allows for a comparison with the very simple expert method (Method 4), in order to determine whether the slight additional sophistication introduced in this method leads to better forecasts. Second, it has not been tested (by the authors who proposed it).
differentiate between allocative efficiency and pricing efficiency
Determine monthly saving: Based on the following information, answer the questions. You consider a retirement plan. The retirement plan will give you $1,000 every month for 1
Many strategic decisions fail because they do not attend to the interests and information held by key stakeholders. This scenario has prompted a stakeholder's approach to cor
An investor buys a French government, 10-year bond, paying annual coupon of 4.5%. Face value = 1000. The investor is unsure of his investment horizon and considers 5 horizons: 5, 6
Problem: Firm 1 produces cars and the total cost of producing q cars is given as C(q) = 2q 2 + 5q. a) Assuming the ?rm operates in a perfectly competitive market. Write down th
The credit term "2/45 net 90" indicates
Problem: (a) Distinguish between Non-Deposit Taking and Deposit-Taking Institutions. Provide two differences between the two types of institutions. (b) Who regulates Depos
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Top-flop division is based on the idea that the demand percentages of the 'top' and the 'flop' SKUs in a group of SKUs are fairly stable over time. For example, the 33% best-sellin
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