SOLUTION AT Australian Expert Writers

The weekly box office revenues (in $ millions) for the summer blockbuster movie discussed in Section 14.5 follow. Use these data in the Bass forecasting model given by equations (14.19)–(14.21) to estimate the parameters p, q, and m.

The Bass forecasting model is a good example of a difficult-to-solve nonlinear program, and the answer you get may be a local optimum that is not nearly as good as the result given in Table 14.4. Solve the model using Excel Solver with the Multi start option, and see whether you can duplicate the results in Table 14.4. Use a lower bound of 21 and an upper bound of 1 on both p and q. Use a lower bound of 100 and an upper bound of 1,000 on m.

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