Managerial Economic class

1, The analysis of firm's demand is one of the key problems facing the modern business firm. Discuss the three major techniques of demand analysis and estimation that are available to a firm.Be sure to include in your discussion the strengths and weaknesses of each approach. Which one do you favor and why?

Answer might be

1 Market Surveys

2 Regression Analysis

3 Market Experiments

2, Name the several types of economic forecasts as pertains to what is forecasted(in terms of coverage area, entity or group forecasted for, and time-frame of the forecast). In addition, discuss the five major methods of economic forecasting used today. (Name each method and briefly state what each method involves). Finally, draw a conclusion about the accuracy and meaningfulness of economic forecasting as it applies to the individual firm.

What is the diffusion index in Barometric forecasting, and how is it used and interpreted? Give an example of its use.