Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. The Nova Tech Solutions Company is considering launching a new app aimed at helping students with STEM education. The company has gathered the following

. The Nova Tech Solutions Company is considering launching a new app aimed at helping
students with STEM education. The company has gathered the following data:
According to educational statistics, one of the regions where it aims to introduce the app has a
student population of 500,000 between the ages of twelve to seventeen years. Research indicates
that 35 percent of students are interested in science and technology-related subjects, and surveys
suggest that 15 percent of students engaged in STEM subjects are interested in educational apps.
Nova Tech Solutions has observed from past market analyses that it can establish a dominant
position in a niche market for up to three years, reaching 100 percent market share. In the best-
case scenario, it plans to achieve a 5 percent market penetration in year 1,10 percent in year 2,
and 15 percent in year 3.
A) What will be the peak number of app users in the best-case scenario over the next three years?
B) What will be the number of app users over the next three years under a worst-case scenario?
Assume that the worst-case scenario has a penetration rate of 2 percent in year 1,4 percent in
year 2, and 6 percent in year 3.
C) If the most likely case scenario involves half of the best-case scenario penetration rates,
calculate the number of app users for years 1,2, and 3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance

Authors: John E. Anderson

2nd edition

978-0538478441, 538478446, 978-1133708360, 1133708366, 978-1111526986

More Books

Students also viewed these Finance questions