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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, s, vary jointly with disposable personal income, y, and the population between ages 15 and 40, z, and inversely with the price of the snowmobiles, p. based on past data, the best estimate of this relationship is:

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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 66,000.

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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