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.
Illustrates about the Barometric techniques?
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Help to achive the other objectives of the firm like industry leadership,expansion implementation of policies
what are the criteria for good forecasting
Formulate the Cross Elasticity of demand?
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answer written below is correct for the question detail exception of demand curve ?
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