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Methods of Forecasting
The various methods of forecasting demand may be grouped under the followings categories:
Opinion Polling Method: In this method the opinion of the buyers sales forces and expert could be gathered to determine the emerging trend in the market.
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You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio
TC = Q3 – 8Q2 + 68Q + 4
SHOW MATHEMATICAL EXAMPLE
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Assume that milk operates in a perfectly competitive market, use a well labeled demand and supply model to explain how market equilibrium price of milk is being determined.
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