The forecasting staff for the prizer co. has developed a, Ask an Expert

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The forecasting staff for the Prizer Co. has developed a model to forecast sales of its air-cushioned-ride snowmobiles. The model specifies that sales S differ jointly with disposable personal income Y and the population between ages 15 and 40, Z, and inversely with the price of the snow mobiles P. Based on past data, the best approximation of this relationship is *YZ/P where k has been estimated (with past data) to equal 100.

a) If Y = $11,000, Z = $1,200, and P = $20,000, then what value would you predict for S?

b) What happens if P is decreased to $17,500?

c) How would you go about developing a value for k?

d) What are the potential weaknesses of his model?

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Management Theories, Management Studies

Category:- Management Theories
Reference No.:- M923711

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