When it comes to forecasting or decision-making, relying on the arithmetic mean, or average, can lead you to a seriously flawed plan of attack, according to the Management Insights feature in the current issue of Management Science, the flagship journal of the Institute for Operations Research and the Management Sciences (INFORMS®).
Management Insights, a regular feature of the journal, is a digest of important research in business, management, operations research, and management science. It appears in every issue of the monthly journal.