The Use of Econometric Methods for Analyzing the Market of Present Day Manufactured Toys

Abstract

The article provides brief characteristic of key historic stages in the development of manufactured toys and studies issues of applying econometric methods for investigating indicators of manufactured toys development. It is shown that specificity of industry, features of its development influence the expediency of using concrete methods, models, information technologies, ways of processing statistic information, analysis and forecast of its indices. The article points to difficulties of Russian enterprises manufacturing toys. It underlines the necessity to estimate correctly and timely the existing situation in order to correct the work of the enterprise to form stable positions on the market in the future. It is pointed out that resolving problems of development and industry as a whole is impossible without a thorough, scientifically grounded analysis of the market of manufactured toys and forecast of its prospects. Special attention is paid to research of possible use of macro-economic models in order to analyze the development of present day manufactured toys. To give management an opportunity to change the existing situation at the enterprise for the better it is necessary to orient to needs of potential customer, whose analysis can be made on the basis of econometric models. Concrete examples of using econometric models in the analysis of indices of manufactured toys market are provided and recommendations for their applied use are given.

Keywords

• correlation coefficient
• model
• multi-collinear feature
• present day manufactured toys
• factor sign
• econometric model