Question: Q2: Version #2 1pt each for fill-ins, Others specified, 15 questions, Total 18pts assigned. Direction: Carefully observe the following information, and provide your attempts--computation processes
- Q2: Version #2
1pt each for fill-ins, Others specified, 15 questions, Total 18pts assigned.
Direction: Carefully observe the following information, and provide your attempts--computation processes and answers--to each problem separately.
Ignore all prior figures: Read the Following Problem Descriptions for Q2.1 Q2.15:
Rocklin Candy Shop is estimating Market Sales Potential (Units & Dollars) in 2024 related to its candy sparkles, which is its recent innovation. The average unit of the similar product in the market is expected to sell at $8. There are two groups of buyers that Rocklin Candy Shop is paying attention to:
- Group 1: Northern California Female population aged between 18~24 years: 40% of this population group is expected to purchase 5 units per person per year.
- Group 2: Northern California Male population aged between 25-44 years: 20% of this population group is expected to purchase 10 units per person per year.
Tips for Solutions: Use the most recent information of the provided Census table, and take gender ratio and population growth rates into your computations.
Tips for Solutions: Do Simple linear prediction to estimate the future number of population for each group.
Linear prediction is a mathematical operation where future values of a discrete-time signal are estimated as a linear function of previous samples.
Northern California Census: Population by Sex and Selected Age Groups: 2010 and 2020
| Sex and Selected Age groups | 2010 | 2020 | Change, 2010 to 2020 | |||
| Number | Percent | Number | Percent | Number | Percent | |
| Total Population | 100,000 | 100.00% | 120,000 | 100.00% | 20,000 | 20% |
| Sex | ||||||
| Men | 50,000 | 50.00% | 66,000 | 55.00% | 16,000 | 32.00% |
| Women | 50,000 | 50.00% | 54,000 | 45.00% | 4,000 | 8.00% |
| Selected Age Groups | ||||||
| Under 5 years | N/A | N/A | N/A | N/A | N/A | N/A |
| 5 to 17 years | N/A | N/A | N/A | N/A | N/A | N/A |
| 18 to 24 years | 10,000 | 10.00% | 14,000 | 12.00% | 4,000 | 40.00% |
| 25 to 44 years | 20,000 | 20.00% | 24,000 | 20.00% | 4,000 | 20.00% |
| 45 to 64 years | N/A | N/A | N/A | N/A | N/A | N/A |
| 65 years and over | N/A | N/A | N/A | N/A | N/A | N/A |
2.1 - 2.10: Fill in the table below. Use Information in the Census Table above. CAREFULLY READ each title for the block and fill in each.
| Segment | Population in 2020 per group (Gender-specific: See the census above) | Population growth rate for 2010-2020 (%) per group | Population growth rate per year (%) per group | Expected 2024 Population per group | Potential Buyers per group in 2024 |
| Group 1: Women ages 18 - 24 | 2.1)
____________ | 2.2)
____________ | 2.3)
____________ | 2.4)
____________ | 2.5)
____________ |
| Group 2: Men ages 25 - 44 | 2.6)
____________ | 2.7)
____________ | 2.8)
____________ | 2.9)
____________ | 2.10)
____________ |
2.11 - 2.14: Fill in the table below. CAREFULLY READ the title for the block and fill each with your attempts.
| Segment | Expected Purchases | Potential Buyers per group in 2024 | 2024 Market Sales (Units) per group (Market Sales Potential in Units) | Selling Price per Pie ($) | 2024 Market Sales (Dollars) per group (Market Sales Potential in Dollars) |
| Group 1: Women ages 18 - 24 | 5 units/year, per person
| Your answer for 2.5) here. | 2.11)
____________ | $8 | 2.12)
____________ |
| Group 2: Men ages 25 - 44 | 10 units/year, per person
| Your answer for 2.10) here. | 2.13)
____________ | $8 | 2.14)
____________ |
2.15) From the table above, estimate Total Market Sales Potential (both in units and $) in 2024. (4pts)
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