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The scores of a class are normally distributed with a mean of 82 and a standard deviation of 8. What is the probability that the mean score of a sample of 64 students is at least 80?
Collaborative Forecasting
A process where various stakeholders, including suppliers, retailers, and customers, work together to make more accurate predictions about future demand.
Mature Products
Products that have reached the end of their growth phase in the product life cycle, characterized by stable sales and minimal innovation.
Stable Demand
A market condition where the desire for a product or service remains consistent over a period of time, unaffected by short-term fluctuations.
Collaborative Forecasting
A process where multiple stakeholders, often from different levels of the supply chain, work together to predict future demand or trends.
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