Forecasters in using statistical demand equations

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What warnings would you give forecasters in using statistical demand equations for estimating consumer demand? How can the problems associated with using static equations in a dynamic world best be dealt with? Elaborate in at least 300 hundred words or more. Please do not copy an internet source or chegg.com. If so I will not pay for question. This is related to managerial economics.

Reference no: EM131576725

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