The forecasting staff for the Prizer Corporation has developed a model to predict sales of its air cushioned ride snowmobiles. The model specifies that sales vary jointly with disposable personal income Y and the population between ages 15 and 40, Z and inversely with the price of the mobiles P. Based on past data, the best estimate of this relationship is S=k YZ/P where K has been estimated (with past data) to equal 100. a. if Y =$11,000, Z=1200, and P =$20,000 what value would you predict for S. What happens if P is reduced to $17,500? How would you go about developing a value for K. What are the potential weaknesses of this model.
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