I need some help to answer the questions (see document attached). More specifically:
1) comment on the (quality of) forecast by comparing it with the atual demand data provided in Exhibit 1?
2) Conduct the A/F ratio analysis to construct an empirical distribution unction. How does this comparer to the normal distribution?
3) How much of each wine listed in exhibit 2 would you order? compare the order quantities of the empirical distribution with the normal distribution. Highlight some important observations about the service level and ordre quantities for some of hte products.
4) How would the analysis differ if the red wines and white wines were treated separately for the analysis? Would the order quantities differ significantly?
Many thanks !