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11.4 Given the following data, calculate the average demand and the standard deviation. Period 1 2 3 4 5 69 8 00 a 10 Total Actual Demand 1700 2100 1900 2200 2000 1800 2100 2300 2100 1800 Deviation Deviation Squared

11.4 Given the following data, calculate the average demand and the standard deviation. Period 1 2 3 4 5 69 8 00 a 10 Total Actual Demand 1700 2100 1900 2200 2000 1800 2100 2300 2100 1800 Deviation Deviation Squared

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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**11.4 Calculating the Average Demand and Standard Deviation** The table presents data for ten periods, detailing actual demand per period. Columns for deviation and deviation squared are included to calculate statistical measures. | Period | Actual Demand | Deviation | Deviation Squared | |--------|---------------|-----------|-------------------| | 1 | 1700 | | | | 2 | 2100 | | | | 3 | 1900 | | | | 4 | 2200 | | | | 5 | 2000 | | | | 6 | 1800 | | | | 7 | 2100 | | | | 8 | 2300 | | | | 9 | 2100 | | | | 10 | 1800 | | | | **Total** | | | | - **Actual Demand** shows the demand value for each period. - **Deviation** from the mean needs to be calculated. - **Deviation Squared** is the deviation value squared, necessary for variance calculation. To obtain the **average demand**: 1. Sum all actual demand values. 2. Divide by the number of periods. To calculate the **standard deviation**: 1. Find the deviation of each actual demand from the mean. 2. Square each deviation. 3. Sum all squared deviations. 4. Divide by the number of periods to get variance. 5. Take the square root of the variance to get the standard deviation.
Transcribed Image Text:**11.4 Calculating the Average Demand and Standard Deviation** The table presents data for ten periods, detailing actual demand per period. Columns for deviation and deviation squared are included to calculate statistical measures. | Period | Actual Demand | Deviation | Deviation Squared | |--------|---------------|-----------|-------------------| | 1 | 1700 | | | | 2 | 2100 | | | | 3 | 1900 | | | | 4 | 2200 | | | | 5 | 2000 | | | | 6 | 1800 | | | | 7 | 2100 | | | | 8 | 2300 | | | | 9 | 2100 | | | | 10 | 1800 | | | | **Total** | | | | - **Actual Demand** shows the demand value for each period. - **Deviation** from the mean needs to be calculated. - **Deviation Squared** is the deviation value squared, necessary for variance calculation. To obtain the **average demand**: 1. Sum all actual demand values. 2. Divide by the number of periods. To calculate the **standard deviation**: 1. Find the deviation of each actual demand from the mean. 2. Square each deviation. 3. Sum all squared deviations. 4. Divide by the number of periods to get variance. 5. Take the square root of the variance to get the standard deviation.
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