George Kyparisis owns a company that manufactures sailboats. Actual demand for George’s sailboats during each of the past four s
easons was as follows: YEAR SEASON 1 2 3 4 Winter 1,400 1,200 1,000 900 Spring 1,500 1,400 1,600 1,500 Summer 1,000 2,100 2,000 1,900 Fall 600 750 650 500 George has forecasted that annual demand for his sailboats in year 5 will equal 5,600 sailboats. Based on this data and the multiplicative seasonal model, what will the demand level be for George’s sailboats in the spring of year 5?
1 answer:
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Answer: B.At equilibrium, quantity supplied and quantity demanded are equal ensuring that at that price consumers will not want more and producers will not supply more.
Explanation:
The point where the market demand and marker supply curves intersect is known as the equilibrium point. The price at which equilibrium occurs is the market clearing price.
It is called the market clearing price because at that price both producers and customers are in equilibrium. Above the equilibrium price, there's is excess supply and below the equilibrium price, there's excess demand.
0.142466 would be the upper control limit for a p-chart
Solution:
Given ,
Sample of 50 shipments
Average percentage of incorrect shipments = 5%
(
ESD =
=
= 0.03082207 ( Remove square root )
UCL = Pbar + ( 3 * ESD)
= 0.05 + (3 * 0.03082207)
= 0.14246621