It is mostly Micro economics and sometimes Macro economics
It is screening of economics in subscriber line management
It helps to seek cost potent solutions hence it is normative in approach
it is pragmatic in nature
It is normative in approach
Provide logic and methodology to find solutions to occupancy problems
Managerial economics as defined by Edwin Mansfield is concern with application of economic concepts and economic abbreviation to the problems of formulating rational managerial end.[
Spencer and Siegelman have defined Managerial Economics as The desegregation of economic supposition with business practice for the purpose of facilitating decision making and forward planning by management.
Regression analysis is widely use for prediction and forecasting, where its use has substantial circle with the field of machine learning. Regression analysis is also used to understand which among the independent variables are related to the dependent variable, and to seek the forms of these relationships. In restricted circumstances, regression analysis can be used to infer causal relationships between the independent and dependent variables.
However this can lead to illusions or false relationships, so caution is advisable
It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis and correlation, calculus.[3] If there is a unifying rootage that runs done most of managerial economics, it is the attempt to optimize business decisions given the firms objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for strategical decisions,[4] and other computational methods.[5]
Managerial decision areas include:
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