A Lumber Company Sells 8-Foot 2x4's to Construction Companies in Three

question 15

Essay

A lumber company sells 8-foot 2x4's to construction companies in three states.They have historical sales demand (in thousands) for the past 26 weeks, as shown below:
They are interested in determining the average number of sales per category for the next five weeks using simulation.They generated the following random numbers for weeks 1-5 respectively: 63, 13, 67, 50, and 71.
a.Based on a scale of 0-99, what random number range should be allocated to sales category of 11-20?
b.What is the average sales corresponding to week 2?
c.What is the average sales over all five weeks?

Understand how attitudes and beliefs influence consumer behavior and decision-making.

Identify strategies marketers use to change consumer attitudes towards products and brands.

Recognize the significance of brand loyalty and the factors that contribute to its development.

Understand the concept of information processing errors and their types in financial decision-making.

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Definitions:

International Community

A term referring to the collective groups of nations or states and their governments, organizations, and people interacting on a global scale.

Rwanda

A landlocked country located in East Africa, known for its intense history, including the 1994 genocide against the Tutsi, and for its extensive recovery efforts and economic growth.

Quantitative Sociology

The study of behaviours that can be measured (e.g., income levels).

Interviewing

The process of asking questions and obtaining responses, typically used in research, journalism, or employment selection.