Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
q construction of an explanatory modelconstruction of a sample to apply multiple regression a large sample is generally essential ideally between
q construction of the causal model - regression analysisthe construction of an explanatory model is a crucial step in the regression analysis it
q explain about regression analysisregression analysis is the statistical technique which identifies the relationship between two or more
q what is data miningdata mining data mining is the process of extracting patterns from data data mining is seen as an increasingly important tool by
q describe rule based forecastingrule based forecasting rule-based forecasting rbf is a proficient method which incorporates judgment as well as
q explain discrete-event simulationdiscrete-event simulation operation of a system is signified as a chronological sequence of events every event
q explain the game theorygame theory game theory is a branch of applied mathematics which is used in the social sciences most particularly in
what is the demand functionit should be noted that by demand function economists mean entire functional relationship which is the whole range of
state the traditional demand theoryso an over-simplified and the most commonly stated demand function is dx f px thatconnotes that demand for
q explain about delphi methoddelphi method this is a systematic interactive forecasting method that depends on a panel of experts experts answer
prediction markets these are speculative markets fashioned with the intention of making predictions assets which are produced possess an ultimate
explain the demand for a commoditythe functional relationship between demand for a commodity and its various determinants may be expressed
methods which rely on quantitative data rule-based forecasting data mining quantitative analogies discrete event simulation neural networks
no demand forecasting method is 100 accurate collective forecasts develop precision and reduce the probability of huge mistakes methods which
the market demand curvequantity of a commodity that an individual is willing to buy at a particular price of the commodity during a specific time
q show the importance of demand forecastdemand forecast for a particular commodity furthermore offers recommendations for demand forecast of
q avoiding surplus and inadequate productiondemand forecasting is essential for the new and old organisations it is somewhat necessary if an
quality and quantity controls demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide
determine the giffen goods - law of demandan exception to this law is the distinctive case of giffen goods named after sir robert giffen 1837-1910
management decisions an effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like
describe the status goods of law of demandthe law doesnt concern the commodities that function as a status symbol add to the social status or exhibit
q production planning in demand forecast period long term production planning can assist the management in organising long term finances on practical
apprehensions about the future price of law of demandwhen consumers anticipate a constant rise in the price of a long-lasting commodity they buy more
q what is labour requirements on the production capacitylabour requirements spending on labour is one of the most vital elements of cost of
diminishing marginal utilitydiminishing marginal utility as well is to be held responsible for the rise in demand for a product when its price