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What is the demand function using trend projection method

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Reference no: EM132549902

The following data are about a certain product.

Year           Production(in thousands)           Import (in thousands)         Export(in thousands)       Ending Inventory(in thousands)

2017                            50                                          20                                30                        9 (75% of beg. Inv)

2018                             65                                              25                             40                             10

2019                              72                                               23                              45                                 8

Required:

Question i. Calculate the effective demand of the product for each year (year 2017 - 2019)

 

Question ii. What is the demand function using trend projection method? Calculate the forecasted demand for 2020 by using this demand function.

Reference no: EM132549902

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