Many companies invest in various marketing efforts, such as price promotion and advertising, in order to attract new customers and build customer loyalty. This paper examines the problem of setting efficient inventory levels when new marketing efforts are made and product demand is...

Empirical prediction intervals are constructed based on the distribution of previous out-of-sample forecast errors. Given historical data, a sample of such forecast errors is generated by successively applying a chosen point forecasting model to a sequence of fixed windows of past observations...