Sales of a product over time often follow an S-shaped curve. Two functions that yield S-...

Sales of a product over time often follow an S-shaped curve. Two functions that yield S-shaped curves are the Pearl (or logistic) curve

Here, Y is annual sales, t is time (in years), L is the upper limit on sales, and a, b, and k are parameters to be estimated. (Actually, L must also be estimated.) The file P08_12.xlsx contains data for sales of a new device. Use Evolutionary Solver to fit a Pearl and a Gompertz curve to these data. Let t = 0 correspond to year 1. Which curve provides the better fit? (Hint: You need to use reasonable bounds for the parameters for each curve. For example, L ≥ 14.5 is reasonable.)