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Statistical technique used to estimate economic variable
Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, statistical estimation techniques used are simple. In other cases, they are much more advanced and complex. So a manager may want to know the average price received by his competitors in the industry in addition to the standard deviation (a measure of variation across units) of product price under consideration.
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DIRECT TAXES A direct tax is one where the impact and incidence of the Tax is on the same person e.g. Income Tax, death or estate duty, corporation taxes and capital gains
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