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Kean University - MGS 4010krajewski_om11_tb_08
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Operations Management: Processes and Supply Chains, 11e (Krajewski) Chapter 8 Forecasting 8.1 Managing Demand 1) The repeated observations of demand for a product or service in their order of occu... rrence form a pattern known as a time series. 2) One of the basic time series patterns is random. 3) A water ski manufacturer believes they can double their sales by producing snow skis during the other half of the year. This approach to demand management is an example of complementary products. 4) A weary traveler shows up at a hotel desk at midnight without a reservation. The desk clerk informs him that there is a room available, but sadly it is marked up 80% higher than the usual price. This is an example of promotional pricing. [Show More]
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