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It has been eight years since you launched a new consumer durable product. The annual sales (# units sold in '000) accrued in these
It has been eight years since you launched a new consumer durable product. The annual sales (# units sold in '000) accrued in these eight years is given in the adjoining table. (a) Estimate the Bass Model (parameters p, q, and M) using these sales data [use regression for the estimation]. (b) Forecast sales (#units sold in '000) from 2023 up to year 2029 and plot the forecast. (c) Change p, q, and M and see how the diffusion pattern changes. Year (t) S(t) in '000 2015 9.9 2016 104.7 2017 180.9 178.3 229.3 2018 2019 2020 2021 2022 244.1 210.3 212.1
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To estimate the Bass Model parameters p q and M using the provided sales data we can employ regression techniques to fit the Bass Model equation to the historical sales data The Bass Model is a popula...Get Instant Access to Expert-Tailored Solutions
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