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Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the probable buyers of the product. Survey methods include.
Complete Enumeration Survey: Under the complete Enumeration Survey the firm has to go for a door to door survey for the forecast period by contacting all the households in the area.
Non-existence of Objective Probability Distributions : Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact
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