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Question1 A company supplying parts to a large customer receives forecasts of the expected demand in advance of the delivery date. One forecast is received one month ahead of delivery and a revised forecast is received one week ahead of delivery (i.e. three weeks after the first forecast). Finally, the actual requirements are indicated electronically on the delivery date. The following table shows that the data sent to the supplier covering a period of six months (twenty four weeks). (i) Does the data indicate that the revised (one week) forecast is significantly more accurate than the first (one month) forecast? In order to find out whether the revised forecast is significantly more accurate than the first forecast, we can use t-test to test whether the means are equal for two populations. At first, we calculate the errors of both forecasts, which give us the following data: Week Error 1 month ahead Error 1Week ahead Difference between 2...

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