Essay on Eco 550 Week 3 Eco550 Week 3

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ECO 550 Complete Course ECO550 Complete Course
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ECO 550 Week 1 Discussion
"Supply and Demand" Please respond to the following: * From the scenario for Katrina’s Candies, identify some key factors that you believe have the greatest impact on the demand for (and the supply of ) Katrina’s Candies. Use the graph below to distinguish between "changes in demand and/or supply" and "changes in the quantity demanded and/or quantity supplied". What could account for the initial change indicated in this market? Will Katrina's price (P) be increasing or decreasing as
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Is this a good equation overall? (Why) Which variables are significant? (Why) Are widgets normal goods or inferior goods? Are Zuggies substitutes for, complements to, Widgets? If you were contemplating entering a new region (16) where median income is $35 (thousand), Zuggies are selling for $14, and you plan to match Zuggie's price by also charging $14, how many Widgets do you estimate will be sold in region 16? (Note: you should be able to copy and paste the table above directly into an excel spread sheet.)
ECO 550 Week 3 Discussion
"Managing in the Global Economy and Outsourcing Offshore" Please respond to the following: * From the scenario for Katrina’s Candies, assuming the absence of quantitative data, determine the qualitative forecasting techniques that could be used within this scenario. Now, assume you have acquired some time series data that would enable you to make forecasts. Ascertain the quantitative technique that will provide you with the most accurate forecast. * When deciding whether or not to outsource offshore, list the key factors aside from maximizing profits that managers should consider. Determine the key factors that you believe to be the most influential.
Optional:
Consider the sales pattern shown in the data set below: Sales | Year | Time Index | 121 | 2004 | 0 | 130 | 2005 | 1 | 145 | 2006 | 2 | 160 | 2007 | 3 | 155 | 2008 | 4 | 179 | 2009 | 5 | 215 | 2010 | 6 | 208 | 2011 | 7 | 235 | 2012 | 8 | 262 | 2013

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