--%>

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 : Charging the competitive price in the

    An apparent monopoly might charge the competitive price in the long run when: (w) exit is costly. (x) entry and exit are relatively costless. (y) this is not a natural monopoly. (z) this is not regulated.

    Q : Market equlibrium challenges of

    challenges of Equilibrium picing in devloping countries

  • Q : Decide to produce or to shut down in

    When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price.

    Q : Value of the Marginal Product and

    When a firm is a price taker in the sale of its product, in that case labor’s: (w) ARP (Average Revenue Product) = MRP. (x) ARP = VMP. (y) VMP > MRP. (z) VMP = MRP. Can someone explain/help me with best so

  • Q : Implicit Labor Contracts If workers

    If workers accept lower wages in exchange for employer assurances of enhanced job security, employment agreements are illustrations of: (i) credentialism. (ii) comparable worth. (iii) specific training. (iv) an implicit labor contract. (v) human capital.

  • Q : Use of Screening and Credentialism

    Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l

  • Q : General Training in Human Capital The

    The knowledge regarding local shrubs and trees which Morgan learns whereas working as an apprentice landscaper into the suburbs of a huge city is an illustration of the benefits from: (1) dirty work. (2) general training. (3) dues-paying. (4) high-skilled employment.

  • Q : HW Hello, Would you please find a small

    Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks

  • Q : Marginal Product of Labor Diminishing

    Diminishing returns to labor or questions of monitoring and coordination start to overwhelm any gains by specialization and division of labor within this graph at: (1) point a. (2) point b. (3) point c. (4) point d (5) point e.

  • Q : Explain the Arc Method of Measurement

    Explain the Arc Method of Measurement of Elasticity.