The Adoption of Effective Management Decisions on the Basis of Econometric Forecasting
The article deals with the study of the dependence of production costs on fixed assets and the number of employees in production. Making informed decisions on this issue is based on a thorough analysis of the information, allowing to understand the patterns, relationships, dependencies between different indicators. Therefore, the analysis of the set of factors and indicators involved in the model was carried out, the dominant factors were identified, their role and relationship was determined, the type of model was formed and its pa rameters were evaluated, the quality and adequacy of the model was checked. Processing of statistical information in the study is carried out by methods of correlation and regression analysis, in accordance with the stages of econometric modeling. The numerical solution of the research problem is accompanied by econometric calculations. The obtained accurate and adequate linear model was used for conditional and unconditional forecasting of costs at the enterprise. Point and interval forecasts of the investigated quantity are constructed. The broken actual data, results of approximation and forecasting with the use of Excel spreadsheets are constructed. The obtained forecast creates an opportunity to make informed effective management decisions by the head of the enterprise.