Asked by Kristine Mae Almodiel on Jul 02, 2024

Historical records on a certain product indicate the following behavior for demand. The data represent the number days that the business was open during 2019 (note that it is possible to have more than 365 days as there are multiple store locations). Convert these data into random number intervals.
 Demand  Frequency 435144824511146994774\begin{array} { | r | r | } \hline \text { Demand } & \text { Frequency } \\\hline 43 & 51 \\\hline 44 & 82 \\\hline 45 & 111 \\\hline 46 & 99 \\\hline 47 & 74 \\\hline\end{array} Demand 4344454647 Frequency 51821119974

Random Number Intervals

A distribution of numeric values generated by a process where each number has an equal chance of being chosen within a specified range.

Historical Records

Documents, archives, or databases that preserve past information and events, serving as evidence or reference.

Demand Frequency

The rate or interval at which a product or service is requested or required by customers.

  • Generate sequences of random numbers influenced by probability distribution models.
  • Assess demand predictions utilizing historical information and probability distribution methods.