Will take less than 5 mins.

1) Recall Joe Ades (potato peeler salesman in NY) example that we discussed. Project his annual sales using the information in two different methods

a) Bottom up. b) top down.

a) For bottom up, assume he sells, on average 20 peelers at $5/peeler in each ‘show’ performing 10 shows a day, for 5 days a week, 4 weeks a month, and 8 months a year.

b) For top down, assume the residents and tourists in NY is 20 million people; 2% of those NY residents and tourists see Joe Ades ‘shows’ in a year, and 20% of those who see the ‘show’ make a purchase art $5/peeler