--%>
Assignment Help - homework help

Advantages and Disadvantage of Naïve Method

What are the advantages and disadvantage of naive method?

E

Expert

Verified

Advantages of Naïve Method:

a) This is easy method.

b) This is less expensive

c) This is appropriate small firms

Disadvantage of Naïve Method:

a) This is not a scientific method. And

b) This is not all the time reliable.

   Related Questions in Managerial Economics

  • Q : Extra revenue from the extra output

    Extra revenue by the extra output produced from an additional unit of a resource is the marginal resource: (1) profit to the firm. (2) revenue product. (3) iso-utility curve. (4) resource cost. (5) productive value.

    Q : Wage payments by total production cost

    Wage payments like a proportion of total production cost are positively associated to the: (1) ease of substitution between capital and labor. (2) wage elasticity of demand for labor. (3) extent of automation in the industry. (4) human capital created

    		•
  • Q : Derived Demands for Resources Demands

    Demands for resources are derived since they: (1) depend upon producers supplies of such resources. (2) depend on consumers demands for the goods the resources produce. (3) rely on the availability of suppliers. (4) rely on the industry’s demand

    		•
  • Q : Define the some criticized highlight

    Define the some criticized highlight points of Adam Smith?

    		•
  • Q : Increases in demand for a resource The

    The demand for a resource would increase while the: (w) price of which resource decreases. (x) price of a substitute resource decreases. (y) consumer demand for products decreases. (z) price of a complementary resource decreases.

    		•
  • Q : Higher Legal Minimum Wage Laws

    Enactment through the U.S. Congress of an extensively higher legal minimum wage would be probably to benefit: (i) American college professors. (ii) high-school dropouts in their teens. (iii) relatively unskilled foreign workers whose production is exp

    		•
  • Q : Define the areas of Scope of Managerial

    Define the areas of Scope of Managerial /Business Economics?

    		•
  • Q : Determine the total Revenue from origin

    Refer to figure as sketched below. Why is the total revenue curve a ray from the origin: w) since revenue increases at an increasing rate. x) since revenue increases at a decreasing rate. y) since the firm can sell its product at a constant price. z) since the firm sh

    		•
  • Q : Explain the modern definition of

    Explain the modern definition of economics?

    		•
  • Q : Explain about econometric models

    Explain about econometric models.

    		•