Ma3. 1. If the two analogous products capturedifferent aspects of the product category ofinterest (i.e. they carry equal weight forforecasting based on the Bass model), what isyour predicted number of annual adoptionsby the end of the year 2020?[2.0, 2.5] million[3.0, 3.5] million[2.5, 3.5] millionNone of the aboveTable 1 - Analogous Products and MarketSizeTotal Market Size Estimate: 200 millionCumulative Sales until 2016: 0.8 millionAnalogous Product 1Analogous Product 2р0.00310.0039q0.4130.374

The Bass Diffusion Model is a concept in marketing through which different patterns of adoption of…

Answered: 1. If the two analogous products…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Q1. The management of an oil company is trying to decide whether to drill for oil in a particular fieldin the Gulf of Mexico. It costs the company $600 thousand to drill in the selected field. Themanagement believes that if oil is found in this field, its estimated value will be $3400 thousand. Atpresent, this oil company believes that there is a 45% chance that the selected field actually containsoil. Before drilling, the oil company can hire a team of geologists to perform seismographic tests at acost of $55 thousand. Based on similar tests in other fields, the tests have a 25% false negative rate(no oil predicted when oil is present) and a 15% false positive rate (oil predicted when no oil ispresent).A. Assume the oil company wants to maximize its expected net earnings. Please utilize decisiontree analysis to determine its optimal strategy.B. Calculate the expected value of the information (EVI/EVSI) provided by the team ofgeologists.C. Conduct a sensitivity analysis on the chance…
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