Essay on Eco 550 Week 3 Eco550 Week 3
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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 …show more content…
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.
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