This document is an evaluation sheet for an internal assignment submission in Managerial Economics. It provides information on the assignment such as the subject code, professor, course details, and student submitting the assignment. The assignment asks the student to forecast demand for a product or service using any method. The student chose tires and used the least squares method to forecast demand from 2020-2028. Tables show the raw data on historical sales and years. Calculations are shown to determine the linear demand curve equation that best fits the data. The curve is plotted on a graph. Finally, the assignment addresses some questions about tires.

1. EVALUATION SHEET
(COVER PAGE)
INTERNAL EVALUATION/ ASSIGNMENT NAME & No: (Internal)
[Compulsory Submission for Internal Evaluation]
Subject Code : 20448108 Subject: Managerial Economics
Prof. Name: Gauri Apte
Course/ Program and Batch: MBA(E)- 2022-24
PRN: 22020448205 Student Name: Abhishek Sharma
Date of submission: 02 / 09 / 2022
Submitted to: _Subject Email Id/--- me@sims.edu Signature of Student___________________
Evaluation:
Evaluated by: _________________________________________ Signature of Faculty ___________________
Date: _______________2022
Question 1 2 3 4 5
TOTAL
(Out of 30)
Marks Allotted
Symbiosis Institute of Management Studies, Khadki, Pune Managerial Economics

2. Assignment -1

3. Content :-
Selection of Product &
method for demand
forcasting
Data Table Mathematical
Calculation
Demand Curve Question and Answers
Managerial Economics

4. Assignment - 1
Take a product or a service , new or existing.
Forecast the demand for the product or service
using any method. Document your finding with
required the required questionnaire and data.
Product – Tire
Method use – Least Square method
The least squares method is a statistical
procedure to find the best fit for a set of data
points by minimizing the sum of the offsets or
residuals of points from the plotted curve
Managerial Economics

5. Year Year no.(X) X^2 Sales in Rs in (Mnx1000)(Y) XY
2020 1 1 12.68 12.678752
2021 2 4 14.17 28.340744
∑X = 3 ∑X^2 = 5 ∑Y = 26.85 ∑XY = 41.01
2022 3 15
2023 4 16
2025 5 17
2026 6 18
2027 7 19
2028 8 20
Table : - 1
Data Table
Managerial Economics

6. Mathematical Calculation
∑XY = a∑X + b∑X2 eq-1 Table : - 2
∑Y = na + b∑X eq-2
Y = a + bX eq-3
From table 1 and Equation 1 and 2
3a + 5b = 41 eq - 4
2a + 3b = 27 eq – 5
From equation 4 and equation 5
a = 12
b = 1
Put value of a & b get linear equation in terms of x and Y and get the table 2
Year No. (X) Sales in Rs (Y)
1 13
2 14
3 15
4 16
5 17
6 18
7 19
8 20
Managerial Economics

7. Demand Curve
13
14
15
16
17
18
19
20
0
5
10
15
20
25
1 2 3 4 5 6 7 8 9
Sales in Rs (Y)
Managerial Economics

8. Questions & Answers
Q1 Any replacement of tire for vehicles in your mind ?
No.
Q2 Do you compromise with your tire life ?
No, vehicle tire should be change as per tire life reached to it limit .
Q3 do you change your tire at a particular time period ?
its depends, which company tire we are using regularly . If we don’t change the company then the tire need to
change at particular time .
Q4 What do you thing about the tire demand in the market ?
As we all know demand of automobile is increasing day by day so simultaneously tire demand is also increasing.
Managerial Economics