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Demand forecasting in managerial economics?
1. Evolutionary method 2. Substitute method 3. Growth curve method 4. Opinion polling method 5. Sales experience approach 6. Correlation method 7. Controlled experiments 8. Economic Indicators method
Characteristics of managerial Managerial economics?
It is mostly Micro economics and sometimes Macro economics It is application of economics in business management It helps to seek cost effective solutions hence it is normative in approach it is pragmatic in nature It is prescriptive in approach
What is a causal forecasting approach A. econometric model B. scenario development C. brainstorming D. the Delphi technique E. focus groups?
A is the answer
What are the Difference between eac original approach and eac revise estimate approach?
For original estimate approach it does not take into account for past cost performance for forecasting of future performance and only take original cost of work. Whereas revised estimate approach takes past cost performance as a good forecast indicator for future performance.
How does system approach affect managerial practice?
The systems approach affects managerial practice by emphasizing the interconnectedness of various organizational components, encouraging managers to view their organization as a complex system rather than in isolation. This perspective fosters holistic decision-making, as managers consider the broader implications of their actions on different departments and stakeholders. Additionally, it encourages collaboration and communication across functions, leading to more effective problem-solving and innovation. Ultimately, this approach enhances adaptability and resilience in a dynamic business environment.
Who is a primary user of the indicator approach of forecasting?
The U.S. government is a primary user of the indicator approach of forecasting.
Who are the proponents of the system approach as theory of management?
who is the proponent of managerial approach
How does the labor supply approach differ from traditional forecasting approaches?
what is the differnce from traditional forecasting and labor supply chain
List different types of forecasting models?
judgemental forecasting statistical techniques whinch involves box and jenkins approach
Demand forecasting in managerial economics?
1. Evolutionary method 2. Substitute method 3. Growth curve method 4. Opinion polling method 5. Sales experience approach 6. Correlation method 7. Controlled experiments 8. Economic Indicators method
Discuss the various approaches to study marketing?
1. Traditional or Historical Approach 2. Commodity Approach 3. Institutional Approach 4. Functional Approach 5. Managerial Approach 6. Decision Making Approach
Characteristics of managerial Managerial economics?
It is mostly Micro economics and sometimes Macro economics It is application of economics in business management It helps to seek cost effective solutions hence it is normative in approach it is pragmatic in nature It is prescriptive in approach
What presidents approach to the managerial presidency featured a deep belief in the importance of scientific expertise in government service?
President Barack Obama uses a managerial approach to the office of the President. He also believes and understands in the importance of scientific expertise in government service.
What are some of the potential benefits of a more formalized approach to forecasting?
A more formalized approach to forecasting can provide a systematic and structured way to analyze data, leading to more accurate predictions and better decision-making. It can also help in identifying trends and patterns, improving risk management, and enhancing communication and collaboration among team members involved in the forecasting process.
What is the principal advantage of curvilinear forecasting?
Curvilinear forecasting allows for a more flexible modeling approach that can capture nonlinear relationships between variables, which may be present in real-world data. This can result in more accurate predictions compared to linear forecasting methods.
What has the author Wah Poh Lee written?
Wah Poh Lee has written: 'A Kalman filtering approach to forecasting and estimation'
What is a causal forecasting approach A. econometric model B. scenario development C. brainstorming D. the Delphi technique E. focus groups?
A is the answer
