Week 4 Discussion – Empirical Demand Function and Forecasting

Week 4 Discussion – Empirical Demand Function and Forecasting

Week 4 Discussion – Empirical Demand Function and Forecasting

The empirical demand function can be used in conjunction with historical data to predict pricing and sales of specific products. As we have previously discussed, regression analysis is extremely helpful in this forecasting. In your opinion what challenges exist when developing these studies? Please use specific examples.

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