Statistical or analytical methods of demand forecasting, Microeconomics

Assignment Help:

Statistical methods are considered to be superior techniques of demand estimation because:

a. The element of subjectivity in this method is minimum,

b. Methods of estimation is scientific,

c. Estimation is based on the theoretical relationship between the dependents and independents variable ,

d. Estimates are relatively more reliable and

e. Estimation involves smaller cost.

Related Discussions:- Statistical or analytical methods of demand forecasting

Arc elasticity, Arc Elasticity is defined below: Arc elasticity measure...

Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q

What is e-commerce, E-COMMERCE ? Electronic commerce or e-commerce refe...

E-COMMERCE ? Electronic commerce or e-commerce refers to a large range of online business actions for services and products. It in addition pertains to "any type of business

How is the wrong conclusion result in necessary condition, How is the wrong...

How is the wrong conclusion result in necessary condition not in the sufficient condition? This is often heard that the market institution must not be used based onto the fact

Price Elasticity, #questAbout four years ago, Kanye West performed at the U...

#questAbout four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for genera

Demand and supply considerations of education, Normal 0 false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Increase in productivity and real wage earnings, Increase in Productivity a...

Increase in Productivity and Real Wage Earnings: Labour has been charged that whereas it presses for higher wages through trade unions, it has failed to raise productivity. Sh

Economic policy efficiently, Economic policy efficiently: The reason f...

Economic policy efficiently: The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but t

Explain perfect competition according to economics theory, Explain about th...

Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci

What is hyper inflation, What is hyper inflation? How it can be reduced? ...

What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th

Perfect competition, Perfect Competition It's a market where conditions...

Perfect Competition It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the marke

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages