Making Predictions

Making Predictions - Making Predictions

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Making Predictions Suppose that you decide to sell commemorative T-shirts at your town's centennial picnic. You know  that you can make a tidy profit, but only if you can sell most of your supply of shirts because your  supplier will not buy any of them back. How many shirts can you reasonably plan on selling? Your first question, of course, is this: How many people will be attending the picnic? Suppose you  know that 100,000 tickets to the event have been sold. How many T-shirts should you purchase from  your supplier to sell on the day of the event? 10,000? 50,000? 100,000? 150,000? How many of each  size—small, medium, large, extra-large? And the important question: How many T-shirts must you  sell in order to make some profit for your time and effort and  not  be left with an inventory of  thousands of unsold shirts?  Ideally,  before
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This note was uploaded on 11/15/2011 for the course QMST 2333 taught by Professor Mendez during the Fall '08 term at Texas State.

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