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Demand Estimation and Forecasting

Demand Estimation and Forecasting

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Published by Shivraj Singh Negi
In this paper we attempt to review the models, process, qualitative and quantitative methods of forecasting. We also review the needs and reasons for forecasting and what methods and approaches are employed for forecasting, requirements for forecasting, what are the shortcomings and business implications of forecasting.
In this paper we attempt to review the models, process, qualitative and quantitative methods of forecasting. We also review the needs and reasons for forecasting and what methods and approaches are employed for forecasting, requirements for forecasting, what are the shortcomings and business implications of forecasting.

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Published by: Shivraj Singh Negi on Nov 20, 2010
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Demand Estimation andForecasting
Economics of Industrial Organizations
In this paper we attempt to review the models, process, qualitative andquantitative methods of forecasting. We also review the needs and reasonsfor forecasting and what methods and approaches are employed forforecasting, requirements for forecasting, what are the shortcomings andbusiness implications of forecasting.
 
Shivraj
 
Singh Negi (HS07H022)Ajai Kurian Mathew (NA07B002)Harshawardhan R (CE06B054)Prem Ranjan(HS07B019)
Demand Estimation and ForecastingEconomics Of Industrial OrganizationsPage 1
 
Demand Estimation and ForecastingEconomics Of Industrial OrganizationsPage 2
 
Demand Estimation and Forecasting
Contents
Demand Estimation....................................................................................................4Methods of Demand Estimation..................................................................................5Qualitative Methods................................................................................................5Consumer surveys:..............................................................................................5Market experiments:............................................................................................5Quantitative Methods..............................................................................................6Statistical methods..............................................................................................6Model specification...............................................................................................6Mathematical models:..........................................................................................6Statistical models.................................................................................................8Data collection........................................................................................................8 Types of data.......................................................................................................8Sources of data....................................................................................................9Presentation of data...........................................................................................10OLS (Ordinary Least Squares) Method for Regression...........................................11Goodness of fit...................................................................................................11Correlation.........................................................................................................11 The coefficient of determination........................................................................12Power Regression..................................................................................................13Case Study: The Pizza Dillemna............................................................................13Demand Forecasting................................................................................................14Need for Forecasting.............................................................................................14 Type of Demand Forecasting.................................................................................14Approaches to Forecasting....................................................................................15 The Requirements for Demand Forecasting..........................................................15Factors affecting Method Selection.......................................................................16 Techniques of Forecasting........................................................................................16Qualitative Techniques..........................................................................................17Survey Method...................................................................................................17Economics Of Industrial OrganizationsPage 3

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