It has been eight years since you launched a new consumer durable product. The annual sales...

 

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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 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 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... View the full answer