In the Bass Model for Forecasting the Adoption of a New

question 29

Multiple Choice

In the Bass model for forecasting the adoption of a new product,the objective function

• A)minimizes the sum of forecast errors.
• B)minimizes the sum of squared forecast errors.
• C)maximizes the number of adoptions.
• D)maximizes the number of adoptions and imitations.

---

Definitions:

Double-Entry Accounting

An accounting method that involves making two entries for every transaction, to maintain the balance of the accounting equation.

Debits and Credits

Fundamental elements of double-entry bookkeeping, where debits represent increases in assets or expenses and credits signify increases in liabilities, equity, or income.

Transaction

An agreement or exchange between two or more parties that is recorded and has a financial impact on the business.

T-Account

A graphical representation of a ledger account, showing two sides for debits and credits, used in accounting.