You are a data scientist with a start-up company called Robocop. This is a logistic company which wants to redefine the delivery system by using flying robots (assume its 10x faster than drones). The question for you is how many robots do you make? Assume it takes $10 million to make each robot? The company plans to 'rent' these robots to different companies like Amazon, Shopify, Jet.com, etc. who are in the business of delivering goods. 

How can we use the' Bass diffusion model' to predict the initial investment? If you decide to build these robots, how will you determine how much to charge for 'renting' the robots?

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The Bass diffusion model is a popular model used in marketing and innovation research to forecast the adoption and diffusion of new products or techno... View the full answer