The best estimate of sales of air-cushioned-ride snowmobiles based on personal disposable income, the population between the ages of 15 and 40, and snowmobile pricing is <u>66,000</u>.
we have the definition, which is S=k yz/p with k=100.
If Y = $11,000, Z = $1,200, and P = $20,000, the value of S is
S = k(YZ)/P
∴ 100(11,000×1200)/20,000 = 66,000.
S=66,000
Here, (based on prior statistics) (based on past data).
if P is decreased to $17,500
∴S = 100(11,000 /1,200)/17,500=$75,429.
Determining a value for K is difficult. You'd need time series data for S, Y, Z, and P. To obtain an estimate K, you would employ regression techniques. To obtain the intercept, the double log key system would be employed.
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