Question Details

For studying demand relationships for a proposed new product that no one has ever used before



1.	The constant or intercept term in a statistical demand study represents the quantity demanded when all independent variables are equal to:
i.	1.0
ii.	their minimum values
iii.	their average values
iv.	0.0
2.	The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X.
i.	percentage, unit
ii.	percentage, percent
iii.	unit, unit
iv.	unit, percent
v.	none of the above
3.	For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?
i.	ordinary least squares regression on historical data
ii.	market experiments, where the price is set differently in two markets
iii.	consumer surveys, where potential customers hear about the product and are asked their opinions
iv.	double log functional form regression model
4.	Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast.
i.	opinion polling
ii.	barometric forecasting
iii.	econometric forecasting
iv.	time-series forecasting
5.	The type of economic indicator that can best be used for business forecasting is the:
i.	leading indicator
ii.	coincident indicator
iii.	lagging indicator
iv.	current business inventory indicator
v.	optimism/pessimism indicator




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