Introduction
Economies of scale implies the cutout cost per unit of production which comes as a result of an increased total output of goods or services. Economies of scale is brought about by a variety of factors among them specialization of labour, spreading internal function costs, bulk orders from suppliers, and larger advertising buys among many others. For example, a high quality and quantity factory produces materials, tools, and equipment at reduced price per unit, and a larger steel metal organization or system will reduce cost per melting and rolling procedures. All these activities aim at lowering the cost of production and increasing the output and the gains per unit. On the other hand, dis-economies of scale are an economic concept where economies of scale do not function for a given organization or a firm. In this case, rather than experiencing a continued decrease in cost of production per unit item and increased output, the company is shocked or surprised with the increase in marginal costs of production when output is increased. This paper, therefore, seeks to outline some examples of economies of scale and diseconomies of scale within a college set up or the environment. Further, the paper endeavours to provide some of the forecast issues in my daily life in business activities, and how I do make my forecasts for future success and goals realization. Lastly, the paper will provide some examples of time series that exhibits trends, cyclical patterns, and seasonal patterns.
Examples of economies of scale and diseconomies of scale in college environment
When the college or the university becomes bigger and has number of students, the number of classrooms sizes are expanded and offer a bigger space for more students. This implies that the cost of production is reduced with time as the number of students to teacher ratio increases and the same time the organization makes more gains as opposed to when the number of students was less. Further on the economies of scale, when the college is big, the procurement department is able to acquire materials and goods in bulk and so save money that and consequently reduce the cost of imparting knowledge and educational skills per student. When the college is big, the printing of documents remains inevitable and consequently leads to opening up strategically positioned retail shops within the school compounds and hence increasing the profits gains. One of the college examples of dis-economies of scale is the teacher’s directive cost per learning hour reduces as the class size increases but with time say when the class is flocked by 350 or 450 students, costs begin to increase. It must be understood that, in college systems, the information and instruction systems remains under check as more leaners are included or added to the system and the cost per learner declines. In other cases, when the college grows too big that it becomes ineffective in terms of the dispensation of duties, then dis-economies of scale follows subsequently (Comstock, Jiang & Davies, 2011) .
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Some of the forecasting issues that I encounter in daily life
Generally, we know that the process of forecasting involves the predicting or foretelling in advance in order to make an informed judgment or take decisions. A good number of issues that we handle in our day-to-day personal and business life require through preparations and organization before they happen. Some of the prominent forecasting issues that I encounter are numerous and require forecasting include; monthly expenses – it forms one of the easiest issues to predict since forecasting upcoming monthly expenses can be done by referring to the previous expenses. With that information from previous months, I am able to confirm how much I allocated in the last month's expense and consequently make an informed decision of what should be included or not in the budget. With time and money schedule for any additional upcoming expenses, I am able to foresee how much more is required for my fixed expense. Secondly, trying to make sure that I have time to complete my home fun and school assignments while at the same time trying to sacrifice for my children's educations and maintain the house are other important issues that require forecasting (Cancelo, Espasa & Grafe, 2008) .
Examples of time series that exhibit trends, seasonal patterns, and cyclical patterns
A good number of time series exhibiting trends include; the demands for high-tech Ipads, united states employment decline or growth, rental cars and hotel reservations, and lastly, the hard copy book and eBook sales among others. Examples of time series that exhibit seasonal patterns include; snow blowers, jet skis, resort hotel booking, airline passenger miles, and lawn mowers among others. Examples of time series that exhibit cyclical patterns include; climate change, recessions by nation and global and stock markets among others (Velden, Yu & Lagoze, 2014) .
References
Cancelo, J., Espasa, A., & Grafe, R. (2008). Forecasting the electricity load from one day to one week ahead for the Spanish system operator. International Journal of Forecasting , 24 (4), 588-602. http://dx.doi.org/10.1016/j.ijforecast.2008.07.005
Comstock, C., Jiang, Z., & Davies, J. (2011). Economies and diseconomies of scale in software development. Journal of Software Maintenance and Evolution: Research and Practice , 23 (8), 533-548. http://dx.doi.org/10.1002/smr.526
Velden, T., Yu, K., & Lagoze, C. (2014). Searching for temporal patterns in the time series of publications of authors in a research specialty. Proceedings of the American Society for Information Science and Technology , 51 (1), 1-9. http://dx.doi.org/10.1002/meet.2014.14505101039
