Author Question: Using Crystal Ball for the data set shown above, identify the purchase quantity that provides the ... (Read 52 times)

Garrulous · **on:** Jun 24, 2018

Using Crystal Ball for the data set shown above, identify the purchase quantity that provides the largest average profit.

A) Purchase quantity 54
B) Purchase quantity 53
C) Purchase quantity 56
D) Purchase quantity 60

Question 2

Is there sufficient evidence to reject the null hypothesis that there is no difference between the analysts forecast?

What will be an ideal response?

brittrenee · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

C

Answer to Question 2

Since F4, 12, 0.05 = 3.26 and F = 2.723, we fail to reject H0 at 0.05. There is no sufficient statistical evidence to conclude that there is a difference between the analysts' forecast.