Define naive method and its techniques briefly
Define naive method and its techniques briefly.
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Naive Method:
It is one of the oldest and crudest ways of forecasting business situation. It is not based upon any scientific approach. There projection is made purely through guesswork and sometimes through mechanical interpretation of historical data. Such method consists of such techniques like tossing the coin, simple correlation and even several other simple mathematical techniques.
What are the Environmental or external issues of managerial economics?
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Illustrates the ways in managerial economics bridges between real business practices and traditional economic theory?
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Illustrates the conditions of price discrimination?
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