Market share for each year. (2018-2023) The table below gives a detailed forecast of...
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Market share for each year. (2018-2023)
The table below gives a detailed forecast of the size of the market by production volume. Assume that KXS expects to capture 10.00% of the market share in 2018 and expects that percentage will increase by 0.26% per year. KXS currently has the capacity to produce a maximum of 1100 thousand units. What production capacity will KXS require each year? When will an expansion become necessary (that is, when will production volume exceed 1100 thousand units)? 2018 2019 2020 2021 2022 2023 Year Production Volume (000 units) Market Size 10,000 10,415 11,020 11,565 12,119 12,789 KXS's market share for 2018 is thousand units. (Round to the nearest integer.)
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Market share for each year. (2018-2023)