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This is a very common methods of forecasting demand. Under this methods a relationship is established between quantity demanded( dependent variable) and independent variables such as income price of the good prices of the related goods etc. Once the relationship is established we derive regression equation assuming relationship to be linear. The equation will independent be of the form Y=A= BX. There could also be a curvy linear relationship between dependent and independent variable . once the regression equation is derived the value of y i, e, quantity demanded can be estimated for any given value of X.
Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on
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Problem 1: Write short notes on all of the following: (a) Log Linear regression model (b) Lin-Log regression model (c) Individual versus Overall Significance Probl
What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t
Criteria of a Good Forecasting Method: 1. Simplicity : and Ease of Comprehension: Management must be able to understand and have confidence in the techniques used compli
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
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