Hoping for a SLU men’s basketball appearance in March Madness, Billiken Book is planning to produce and sell a special t-shirt during the month of March. The shirt will retail for $17.00. The shirt costs $4.25 and the printing an additional $4.65. Billiken Book has found that before school starts in August, it can usually dispose of even the most out-of-date t-shirts by marking them down to $1.50. Billiken Book estimates demand will be 1000 t-shirts. Before placing a firm order with their supplier, Billiken Book has decided to have you look at the historical data on forecasts and actual sales of comparable t-shirts. The data can be found on Blackboard in the spreadsheet entitled "Billiken Book T-Shirt Data." Question1(3points) What does the mean actual-to-forecast ratio say about Billiken Book’s fore- casting practices? Mean A/F Ratio= 1.091 Question 2 (4 points) Model demand for t-shirts with a normal distribution. How many t-shirts should Billiken Book order?
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Hoping for a SLU men’s basketball appearance in March Madness, Billiken Book is planning to produce...
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