read the case and determine for yourself what is needed. Then write a paper telling me what you are planning to do.
use your own personal career / income
, to help guide your thinking, attached is (1)a pdf of two pages from chapter 7 of the textbook you used for your Business Modeling course. The first model is a static one while (2) the second, from Chapter 11 is a more sophisticated model that includes probabilities. Probabilities are necessary in any forecasting model because, for example. a model assuming a salary raise of 5% per year for the next 30 years is not realistic – salary raises will vary from year to year and a good model must take that into account. The second pdf shows you how that can be done as I am sure you remember from the course – it includes Discrete, Uniform, Normal, probability distributions which you can apply as appropriate.
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