1. Trend projection Here data of past sales is used to project future sales. This is the simplest and most straightforward method of demand forecasting. 2. Market research This is based on data from customer surveys. Time and effort is required to prepare and send out surveys and tabulate data. 3. Sales force composite This method uses the experience of the sales team in a company. Feedback from the sales group is used to forecast customer demand. 4. Delphi method Demand forecasting experts from outside the firm are involved in this method. Several rounds of questionnaires are held which are to be responded anonymously until the group of forecasting experts comes to a consensus. 5. Econometric A mathematical formula is created to predict future customer demand. Here, statistical tools and economic theories are combined to estimate the economic variables and to forecast the intended variables.
Which of the following statement is correct
Statement 1: Laffer Curve shows relationship between tax rates and the amount of tax revenue collect...
Which of the following is correct regarding long run cost
Which growth model inspired the use of the capital-output ratio for development planning?
What is the correlation coefficient of the straight line ax+by+c=0 wherein a>0 and b <0
High powered money comprises
If the economy is operating at point C, the opportunity cost of producing an additional 20 units of bacon is
If price charged by the firm is Rs.10 and quantity sold is 15 units. Marginal cost is Rs. 5. What is the Lerner’s Index of Monopoly power?
In the Classical model, if there is an increase in aggregate demand, what will be the long-run effect on output and prices?
The credit manager at a Departmental store collects data on 100 of her customers. Of the 60 men, 40 have credit cards (C). Of the 40 women, 30...