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Saurabh ajmera's Blog – September 2019 Archive (1)

Calculating Price Elasticity Through KNIME

As per Wikipedia, Price Elasticity of Demand (PED or ED or PE) is a measure used in economics to show the responsiveness, or change, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. In more precise business terms, it helps in finding those products which have their sales more/less susceptible to price changes. As we know, the demand is inversely proportional to price, it is quite imperative to know this information for…

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Added by saurabh ajmera on September 13, 2019 at 5:41am — No Comments

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