Essays on Time Series

Introduction

Planning is an important aspect of managing any business. Planning sometimes involves prediction of the future conditions. Forecasting sales is significant in profit planning among other strategic decisions. Several methods are used in forecasting sales. A business should apply the method that most accurately estimates the future sales. Excellent Consulting Group wants to identify the best method to forecast its sales for year two. A forecast has already been made using the regression analysis method. The technique involved developing an equation which gives the monthly sales figure as a function of the number of customers in each month. The ...

Abstract

Linear Regression (LR) forecasts the value of a random variable (dependent variable) for a given value of an associated independent variable. The regression equation provides the formula for such a calculation. Simple Exponential Smoothing (SES) forecasts the bases its forecasts on a weighted average of past data, with more weight on the more recent periods. A smoothing factor helps in providing weight. It generally forecasts for the short-term. In the present case, we forecast the sales data for year-2 for ABC Furniture Company using both the methods. For SES, we use two smoothing factors α equal to 0.15 and 0.90 ...

Abstract

Regression analysis estimates the value of a random variable (dependent variable) for a given value of an associated independent variable. The regression equation provides the formula for such a calculation. In the present case, which is about the analysis of the dependence of total monthly sales on the monthly customer traffic, the consultant first examines to see if there is a correlation between the two variables. To achieve this, the consultant uses the scatterplot, plotting the points on a graph. After analyzing the scatterplot, the consultant is convinced that there exists a strong positive linear correlation between the two ...

Forecasting methods in health services

Forecasting is a mathematical prediction process that uses the data from the past records to predict the future outcomes. In the case of the health services, it uses the number of patients visiting a given health facility for a given period of time, like, say, for a whole year or a month in order to predict the estimated number of expected patients in the following year. This helps the health facility managers to make a prior plan of financial and material expenditure for the year or month to come. In addition, forecasting helps to monitor the operational efforts in ...

Chapter 3: Methodology

3.0 Introduction The theory of purchasing power parity is essential for the study of international trade since it argues that there exist a relationship between prices of products and exchange rates. This theory provides a framework for assessing long-term changes in the exchange rates. It states that similar goods and services in various countries should have the same cost in the long-run (Frankel 153). Essentially, the PPP theory is based on the assertion that the exchange rates tend to adjust themselves in such a way that there no opportunity costs for buying particular goods or services in a particular ...

Question one

The analysis of data through the description, and summary of records in a meaningful manner so that the patterns may emerge from such information is known as a descriptive statistics (Investopedia, 2007). However, in certain circumstances, it does not allow data specialists to make conclusions beyond the information to be analyzed regarding any hypotheses that are being prepared. The descriptive statistics enables one to make a characterization of data based on its properties (Baseline Help Center, 2016). Therefore, the main types of this statistic that can allow one to analyze business decisions are: variation such as standard deviation, range, ...

1. Introduction This section defines a systematic approach using tools and techniques of research to carry out a research project (Jha, 2008; Kothari, 2004; Newman & Benz, 1998). 2. Research Approach The research aims to base the underlying study on quantitative approach for data collection. Quantitative methods will be utilized for the collection of theoretical data? A statistical analysis (linear regression analysis) will be conducted to achieve this purpose with the help of the secondary quantitative data relating to chosen economic indicators in India. Past studies can also have some numeric information and inference as well. This way, the study ...

Question one

The descriptive statistics is the analysis of data for describing, showing, and summarizing records in a meaningful way so that the patterns to emerge from the information. However, it does not allow the analysts to draw conclusions beyond the data to be analyzed concerning any hypotheses being made. The types of descriptive statistics are as follows: The measure of central tendency. It is the way of describing the central position of a distribution for the collection of data. That is the frequency distribution the distribution pattern of records of a company particularly from the lowest to the highest. Therefore, ...

Ventilator-associated pneumonia

Abstract The intensive care unit in most hospitals plays the role of providing care to patients dealing with life-threatening conditions. The technological and other set ups in these hospital units are vital in ensuring that these patients continue to receive the best regarding care while with the intentions of having them emerge with desirable outcomes. There are however challenges relating to the care that these patients receive since, in most cases, they are usually under mechanical ventilation. A patient under this condition faces the risk of developing ventilator-associated pneumonia if the ventilators are not handled with the required care. ...

Descriptive statistics refer to the numbers that are used in summarizing the descriptive data. In this case, the data refers to the raw information that has been collected in the field. Once the data has been collected, it is important for the user of the information to analyze in order to be able to interpret it and make sense of the information that has been collected. Thus, the first step in any statistic problem is to make sense of the raw information that has been collected. For a decision to be made, evidence has to be prepared in such ...

About the paper

The paper is commissioned to analyze the industrial position of Qatar based Aamal Company using both qualitative and quantitative parameters. While the qualitative assessment will be based on SWOT analysis, quantitative assessment of the company will be performed using the tool of ratio analysis as part of which, we will be performing the analysis using raw financial figures for the current year and the comparing the outcome with industrial and index benchmark . Additionally, we will also perform the stock valuation of the company to access its suitability for the investment purpose. The report will finally be culminated with a ...

Abstract

Regression analysis is the statistical technique commonly used in econometric modeling and carrying out economic forecasts. This study sought to assess the precision multiple linear regression in evaluating the evolution in real GDP per capita in the USA between 1998 and 2011 using expenditure approach. Three macroeconomic variables were used; Gross domestic product, net investment and final consumption. Net investment and final consumption are model regressors predicting GDP. The researcher used MS Excel to carry out all the statistical analysis on the data. The analysis result shows weak linear development GDP increment. Small fluctuations were observed around the fitted ...

Importance of understanding cost changes

Introduction Introduction The report outlines the importance of having a good understanding of the cost changes. The two commonly used methods used to derive the cost function are the econometric method and accounting method. The report gives details on how the CVP analysis technique has been used to get prices of diverse range of products and services. The CVP analysis is based on certain assumptions which are extensively covered in the report. This report is intended to help in improving the efficiency of carrying out operations in both small and large business organisations.

Different methods were used in collecting ...

1. Use of Analytics in Accounting Understanding data is seen as important in the areas of strategizing and decision-making for finance and business in general. This is developed in accounting using the field of analytics accounting. According to Cao, Roman and Stewart (425), accounting analytics describes the manner in which financial statements and non-financial metrics are attached to interpret financial and accounting performance of a business. The interest that this will be having is one of forecasting that the accounting analytics will be presenting for the future performance of the company or the business. Notably, Chan and Kogan (13) ...

Company Overview

Myer Company was founded by Sidney Myer, who will be remembered in a long as one of Australia’s great philanthropists as well as a retail visionary. He welcomed customers to his incredible department stores, giving them international class merchandise and services. Currently, Myer Company remains to be the favorite department store in Australia. It has continued to uphold its legacy. Myer Company has been the largest Australia department store offering stylish and fashionable items for more than 100 years. Since its foundation, Myer has been a significant employer and has a great history of local community involvement and ...

Bodie, Z., Kane, A. & Marcus, A. J. (2014). Investments. New York: McGraw-Hill Education. The book reviews investments on a broader aspect when it comes to the business market. The authors of the book got the information through secondary sources on the topic. The secondary sources had to be during the period not more than ten years from the publication of the book. The book focuses on how financial prediction is used to determine a worthy investment in the business market. The book is useful as it looks at asset allocation and its treatment for future options and derivative security ...

Value-at-Risk

Introduction Risk assessment is essential in portfolio management. A portfolio manager has the duty of maximising returns of the portfolio of the assets for each level of risk. Alternatively, a portfolio manager should minimise the risk of the portfolio at any level of return of the portfolio. Several models are used in assessing the risk involved in a portfolio of investments. Value-at-risk is widely applied in determining portfolio risk. We explore the concept of value-at-risk and its usage in portfolio management.

It is a model that measures how much the value of a portfolio could fall over a specified ...

Abstract

Can female participation in the labor force contribute to economic growth? Is there a causal relationship between female participation in the labor force and economic growth? This paper addresses these questions using the vector error correction model. For this study, an annual time series data for the period 1970 to 2012 for the United States has been used. The results show that there exists a co-integration between female participation and GDP per capita, which is a proxy measure for economic development. The result does not support a two-way causality between the variables. However, a causality running from GDP per ...

Introduction:

Historically, photovoltaic (PV) market in this country was dominated by residential PV application (Ted 23). Among the revolutions made by the then government of Japan was to invent and promote other renewable sources of energy (Paxson 201). This paradigm shift by the Japanese government has been motivated by the craving to put some environmental factors in check. Also, the energy demand not only in Japan but also all over the world has increased. This has reached a level where the existing energy sources are unable to meet the current market demand. This paper seek to address various concerns of ...

Q1. An overview of the selected company (history, financial status, etc.) Chrysler is the recognized as the third largest Detroit’s auto firms around the globe. The invention of the Chrysler can be traced from the Maxwell Motor Company that was formed in 1913. In the early 1920s, the company faced financial constraints, and they sold their rights to Walter P. Chrysler. I think that Walter approach to revitalizing the company was unique, and this is the reason the company bounced back to reign the automobile market. Chrysler is presumed as the pioneer to convince the firms to manufacture ...

Objective and subjective forecasting

Forecasting is act of predicting the future by use of (time series related) data that are available in order to make objective decisions. According to Fides and Bernard there are two basic types of forecasting models- subjective model and objective model. This paper aims to make comparisons between the subjective forecasting method and the objective forecasting method. Objective models refer to those methods in which there are a specific and well defined procedures of obtaining the forecast. This forecasting method is usually quantitative with alo0t of data involved in completion of the process. At other times the specifications in ...

The Limited capacity model of motivated mediated message processing (LC4MP) is a data based model proposed for investigation of the real-time processing of mediated messages. It provides the primary theoretical conceptualization of human information processing within a psychological perspective which enables researchers to track the overtime interactions that occurs between a message, the medium and the user. This model has the advantage of being applicable to all types of media even those yet to be invented and also with all types of messages and users (Lang, 2000). LC4MP is uniquely designed for understanding and prediction of the real-time interactions ...

Regression Analysis and Time Series Modelling

Regression Analysis in Legal Scenario Multiple regression and time series analysis have played an important role in legal context also. For instance, in the famous supreme court case of McCleskey v/s Kemp, the appellant, who was sentenced to death, claimed that race of the criminal plays a very important role when the judge decides the punishment. Accordingly, David Baldus, a professor at the University of Iowa, ran regression on the number of death penalty cases, while keeping the race of the criminal, his past criminal record, method of killing and motive of killing as independent variables. Ironically, the outcome ...

Income and Expenditure

Introduction Income and expenditure contributes largely to economic measures of an individual, country or continent. They determine the credit worthiness of a person or economic stability of a given country. Hence, my report will cover how income of an employee relates with his expenditure in the U.S. What actually am determined to prove is that, when a person gets higher income will his or her expenditure increase or decrease? For instance, I managed to find discrete data concerning income and expenditure from the ‘Economic data for the U.S.: http://www.bea.gov/’. The data had three variables namely, months starting from the ...

ABSTRACT

The aim of this dissertation is mainly to analyzethe risk in the New York Stock Exchange using Statistical aspects and the computation of Value at Risk. The technique of Value at Risk or Value at Risk (VaR) is a methodology to standardize the calculation of the various risks that occur in a business e.g. banks, stock exchanges and corporations. The risk is defined as the probability of obtaining a result different than expected, the factors that will depend on the position of the entity, the risk factor under consideration and the time of calculation. Thus, the VaR seeks to establish quantitatively the ...

Summary

This is an article based on exclusive research on increases in the relative abundance of mid-tropic level fishes concurrent with declines in apex predators in the subtropical North Pacific between 1996 and 2006. The topic of study is based on a sample of 13 most profuse species caught in the deep-set Hawaii situated in the long-line fishery for the past decade from 1996 to 2006. This is aimed at provision of evidence of a change among the top North Pacific subtropical predators.

The catch rates for apex predators like blue shark, bigeye and albacore, spearfish, as well as striped marlin reduced ...

Question 1

Non equivalent Control Group Design – in this type of quasi experimental design both the treatment group and the comparison group are compared with the use of pretest and posttest data. The researcher can confidently have her claim regarding the effect of the treatment when the above groups are similar in the pretest measures but different in the post test measures.

Non equivalent Interrupted time series Group design – in this design, the researcher looks into a sequence of observations made before and after the treatment. Treatment effect takes place takes place when sudden changes occur during the implementation of ...

1) Describe how to formulate and test hypothesis about a population mean and/or a population.

A hypothesis essentially refers to the prediction of the expected outcome of a research process. When one intends to research a particular subject, event or outcome, he ought to state his expected outcome. There are two types of hypotheses; null and alternate hypotheses. The null hypothesis refers to what the researcher is trying to nullify, disapprove or reject. In testing the hypothesis, the researcher attempts to prove the hypothesis either wrong or right. In hypothesis testing, the researcher needs to first state both the null and alternate hypotheses. The researcher then needs develops an analysis plan which describes how to use ...

Process Improvement Plan

A process is no more than the procedures and selections comprised in the manner to which work is achieved. Entirely every human activity comprises of processes, which includes ordering a part, writing a work order, getting out of bed, performing a test, shooting weapons, weighing activities as in coffee farms and others. All these practices requires us working on some set principles and working as per given limits. Furthermore, it can be noted that working with processes have a number of benefits to individuals. However, processes vary, where others are very simple and cheap to perform while others are challenging requiring experts only ...

Biometrika has fro the last 100 years published over 400 years concerning the subject of Time Series. Time series is a significant feature in Biometrika under the editorship of Professor E.S. Pearson. These papers grew enormously at a rate of 10% up to the present time. The first Time series paper was written by Gosset “student” and Anderson (1914). Correlation was a new and a crucial concept in Time series. Consider two time series, (Xt) and (Yt) as expressed below Xt = mt +et and Yt = Mt + Et Where et and Et are sequences of uncorrelated random variables, mt and Mt ...

- Introduction Oil production and prices in US have been experiencing fluctuation for a long period and there is a need to identify whether the production has a significant effect on oil prices for the period from 1986 to 2005. This analysis could be of interest to the energy administration commission and the government for the purpose of planning for oil price control as well as for the purpose of planning investment in infrastructure for oil production. (Bp, 2013) This will involve testing whether there is a relationship between the variables as well as establishing the nature of such relationship. To ...

Stationarity of a series

These are where the mean, variance and autocorrelation structures in a model do not change over time. It is a stochastic process whose joint distribution in probability does not change even when shifted in time. The statistical properties do not change over time. It shows that the degrees of expectation, third order and the variance do not change in the process of estimation.

Benefits of stationarity of a series

Stationarity a series has several benefits. To begin with, the study of behavior for a certain period under consideration is made easy due to the consistency in the model. In the forecasting of the expected results are more likely to ...

Forecasting is the act of making predictions. It is a critical element in decision making and serves the purpose of reducing the risk in decision making to reduce unexpected cost. The time series models are the best techniques to use when calculating fuel prices. According to Beasley (2010), time series can be defined as a collection of data that is recorded over a certain time frame which can be weekly, monthly, and so on. A time series model has four components; the trend, seasonal variation, the cyclical variation, and the irregular variation. The trend includes sales, stock prices, as well as other ...

Oil Prices: Breaks and Trends

The paper organized by the author also has an in-depth relationship with other literature works on the subject of Oil Breaks and Price Trends. Firstly, it has used the Kejriwal and Perron’s sequential procedure to determine the multiple structure changes in real oil prices. However, the author avoided the circular testing problem. In fact, the Kejriwal and Peron model allows the repeated use and selection of a number of breaks in the trend and in the level of a univariate time series without any prior knowledge as to whether the noise component is stationary or not. Thus, the author, in ...

Economic evaluation involves the business aspect monitoring and analysis in a company. This analysis is intended to carry out comprehensive auditing of the profit and/or loss making aspects of the company. The end result is expected to put the management of the company in the know that theirs is a profit or loss making venture. During such evaluation, several aspects are considered especially the financial aspects. The analysis is intended to identify the various needs of the company and try to propose practical solutions to the identified needs of the company. Such solutions may include a change in the structure of the ...

Interpreting Market Trends for BMW Dealership in Sydney, Australia

Specializing in the sale of automobiles in Sydney’s BMW dealer has been a top premium brand choice. However, with an ever-changing environment and new trend factors, the General Manager, Helga Schmit would seek to re-think the dealership’s marketing strategies in order to assist it produce batter sales results. Thus, there will be a need for collecting data on various market factors that are specific to the Sidney’s BMW market. In that view, the collection of data will be focused on the capital city of Sydney, Australia. The data factors are summarized as follows: - Disposable income: Employment ...

The Transatlantic Trade and Investment Partnership

The Transatlantic trade and Investment partnership (TTIP) is a proposed agreement of free trade between the European Union and the United States of America. The aim of this agreement is to do away with the trade obstacles present in an extensive range of economic sectors (TELÒ, 2013). Removal of these barriers will make it easier to carry out trade between the European Union and the United States of America. Apart from cutting tariffs across all sectors, the United States of America and the European Union intend to deal with barriers such as the disparities in technical regulations, standards and procedures ...

Project management software has the ability to help in the management of resource pools, help in planning, help in the organization and develop resource estimates. Relying on the refinement of the product, it can oversee planning and estimation, collaboration software, scheduling, expense control and budget management, resource allocation, decision-making, communication quality management and documentation. Today, various PC & program based project management software subsist and they are discovering their path into practically every kind of business. Therefore, this paper will examine SAS (Statistical Analysis System) as useful project management software for QPM Company. This paper will also provide a brief description ...

There are three main causes of stockpiling gold. People, countries and institutions may stockpile gold for future profit or investments in the future, for security in terms of emergency funds and lastly to back the economy during a crisis. These three main causes of gold stockpiling are the reasons behind the intention by many people to maintain stocks of gold each of them are discussed in detail as below; First, stockpiling of gold is meant for investment. In this regard people, institutions and governments anticipate making future profits from the appreciation of the value of gold. According to Beechy ...

Literature Review

Literature Review Automobile is an essential means for social and economic mobility. Cars in particular have brought convenience and transportation benefits and became a significant symbol of culture, innovation, and progress. However, the proliferation of cars presents several opportunities for criminal activities such as theft. Key cities in the United States are experiencing high prevalence if car theft cases and among the regions with the highest rate of cars stolen is the Dallas Country in Texas. Due to the imminent increase in car theft cases in the area, local law enforcement units are finding more effective anti-car theft solutions ...

Question 1

Kudler fine food has made an immense contribution towards the sanity that is evidenced in the wines and spirits and food industry. It is estimated that this organization is one of its own in the industry of wines and spirits and food. The company has owed its success to the efficient application of the forecasting techniques. One of the forms that Kudler Fine Foods uses is the market research and the panel consensus. These two forms characterize the qualitative forecasting technique. The company has been collecting data from its clients through interviews and surveys in order to evaluate the ...

Question 1

a). Using the ACF graph, a trend is identified, which shows seasonality. The first trough shows the high season whereas the second trough represents the slack. After the ninth period, the graph shifts to the negative side, which may signify a low season. The PACF graph shows that a majority of periods of high are followed by a low period. This, however, is different for some periods where a period of high is followed by two consequent lows. This is a non-linear trend for the Mobile Home Shipment. b). From the autocorrelation analysis, there is an evident time series. A time series is when there is a ...

Abstract

Mexico is the world’s 12th largest economy in terms of Gross Domestic Product ($1.657 trillion), growing at an average rate of 3.8% annually. With a 47.7 million labor force, Mexico has GDP per capita of $15, 100 which is the 81st highest in the world. Mexico’s leading industry include food and beverages, tobacco and cigarette production, chemicals, iron and steel manufacturing, petroleum, mining, textiles, clothing, manufacture of motor vehicles, consumer durables, and an active tourism sector. Ninety percent of Mexico’s trade is under free trade agreements with countries from the whole North America, most of Central America, ...

Project Title: To Analyze Relationships and Trends of Stock Prices in Amsterdam, Frankfurt, London, Hong Kong, Japan, Singapore and New York

This project shall endeavor to establish the correlations between the stock prices in Amsterdam, Frankfurt, London, Hong Kong, Japan, Singapore and New York for the purpose of providing information that could help in making investment decisions and inferences. Apart from correlations, this project shall also focus to establish the trends of the performance of stocks in these countries by fitting necessary time series regression models. The eventual significance of the trend analysis shall be forecast of the expected ...

Supply Chain

Supply chain of Big Mac: The supply chain process of Big Mac includes the following transference in the structure: McDonalds uses the following supply chain for a Big Mac production (Apte, Maglaras, and Pinedo, 2008). - Raw material suppliers include: cheese from New Zealand, beef from Spain, onion and pickle from US, sugar and oil from Brazil, buns from Saudi Arabia and packaging from Germany. - The raw material transported to distribution centers.

Supply chain of Gasoline:

The supply chain process of gasoline includes the following transference in the structure (Krajewski, Ritzman, & Malhorta, 2007): - At first the purchase ...

There are several tools for data analysis which includes several statistical operations like variance, time series etc. Global Monitor Platform (GMP) is one the wide used tools for data analysis. This internship project is meant to have an overview of Data analysis of the Global Monitor Platform (GMP).

Duration of the project: June 3st 2013 to July 31st 2013

Duty: Duty of this internship is to be involved in data analysis of carbon 12, 13 and 14. The detailed description has been mentioned in research methodology. Description of work and Research methodology: In this project data for carbon 12, 13 and 14 have been analyzed from over 5000 samples ...

Many decisions made in operation management are based on forecasts. This is the basic principle used in matching supply to demand. A company’s accurate forecast enables it to take advantage of future opportunities and decrease on any impending risk (Stevenson 109). Forecasting is basically an anticipation of an event in the future. In business, entrepreneurs need to forecast or make a valid anticipation of what a customer will want to buy. In operations management, forecasting is a way of getting information on what a customer will demand in future. This is a way of aligning the supply according to demand in the market. ...

IDENTIFICATION OF THREE ESSENTIAL ELEMENTS IN RESEARCH PROPOSAL

A research proposal basically has nine elements that make the research proposal attractive and effective. Out of the nine elements, three elements are the most essential in a research proposal. The three elements are as follows;

Statement of the Problem

The first element is providing the reader with clear and concise statement of the research or the goals of the project. In simpler words, this section includes the specific question(s) that must be answered along with the significance of the research proposal (Sekaran, 2006). In addition, it has also been indicated in several researches that this particular section provides an explanation of how ...

Business forecasting

Business forecasting In any business venture, continuity is a very important aspect that keeps the business coordinators always alert and thinking. This is the aspect that analyzes business expansion, growth and improvement thus it forms a very important base to business management. So as to ensure and enhance continuity, there is need for the business to have excellent future plans which are mostly termed as strategic plans. However, continuity does not only comprise of the plans but also have a lot of speculations in the plan as well as consider any treads in the field of economy that the business ...

The high price of oil is making daily life and getting to work and school difficult for a lot of people. The news media plays many shocking and frightening stories about the effects the high price of oil has on countries around the world. Sometimes it seems that most of the news reports are based only on rumor. Some journalists and financial analysts do their research though and base their reports on solid research. Learning to understand which reports are based on rumor and which are based on fact is the best way to understand what is happening in world ...

1.0 Abstract Industrial and organization research is normally concerned with human mental processes and behavior in organizations and businesses. Organizational research normally uses the quantitative research method because most the problems that are studied meet the four objectives relevant to scientific understanding; description, explanation, control, and prediction. However, qualitative research is increasingly becoming relevant in Industrial and organization research. This creates the need to understand both qualitative and quantitative research techniques.

2.0 Introduction Qualitative research is a research design that seeks to study research participants in their natural environment in an attempt to interpret phenomena or develop a theory. ...

EXTERNAL DEBT SUSTAINABILITY OF U.S: A NONLINEAR APPROACH

Abstract The main objective of this paper is to carry out an investigation of the sustainability of external debt of US through a non-linear approach. We are first going to test the non-linearity and non-stationary nature of the data simultaneously. We are then going to test the linearity of the ratio against the threshold autoregressive using the TAR model. The US debt sustainability has been an issue of global concern for quite some time now. We are going to analyze it using the MS unit root test which is applied to the debt flow for the current account. The ...

Introduction:

Achieving sound financial condition is a major focus for many organizations as it is through continual buying from customers that an organization can grow. Online banking has been identified as an effective strategy of achieving customer loyalty by delivering the best service or quality product in the banking sector. It is however worth noting that very little research has been conducted on application of online banking in the banking sector across the globe with the changing time. E-Banking or online banking seeks to produce quality the first time saves time that is often wasted on correcting mistakes hence can be ...

Statement of the Problem

The current Australian medical policy aimed to provide its citizens with cheaper healthcare services and products through the strategy of generic products manufacture, supply and distribution is of a disadvantage to the country and people’s socioeconomic development mainly because of the compromised set of standards and quality of the products and services.

Project Overview

Generic products have proliferated in Australia through legal government support both in policy formulations and financial means to reduce poor healthcare services for riskier diseases .

The introduction of the strategy was geared towards reduction of overdependence on expensive medical products by the poor in healing diseases which ...