Statistical or analytical methods of demand forecasting, Microeconomics

Statistical methods are considered to be superior techniques of demand estimation because:

a. The element of subjectivity in this method is minimum,

b. Methods of estimation is scientific,

c. Estimation is based on the theoretical relationship between the dependents and independents variable ,

d. Estimates are relatively more reliable and

e. Estimation involves smaller cost.

Posted Date: 3/30/2013 2:10:55 AM | Location : United States

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