Econometrics Project: Each student will be responsible for generating a sales forecast for a selected industry or multi-national firm using econometric methods, using a sales data set collected from the available Compustat or Bloomberg systems. In addition, students must gather information on relevant measures of prices, income, advertising data, and other relevant (socio-economic) data to support the construction of a multi-variate regression model. The student must build the econometric model utilizing Excel or E views. Results of the analysis must include (a) an executive summary of the outcomes; (b)information supporting the choice of the variables, including the socio-economic variables (model specification), (c) detail concerning the model development and data acquired; (d) a sensitivity analysisfor alternative scenarios, and interpretation of the elasticities and the implication to pricing strategy; and (e) interpretation of the results with implications to business policy.Five scores will be provided. The basis for these scores are the student ability to (a) provide a justification for the model specification based on relevant theory and gather the appropriate data(MBA-2M); (b) use Excel or E Views to generate forecasted demand outcomes (MBA-1M); (c) assess the impact of the socio-economic variable on the demand for the product under alternative scenarios(MBA-2G); (d) discuss the relevant economic implications of the estimated elasticities (MBA-ECON); and (e) suggest meaningful implications that inform business policy of a multi-national firm(MBA-MGMT).
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