Final answer:
To determine Round 1 market size for Low Tech and High Tech segments, use the formula with the current market size and demand growth rate, choosing the appropriate method for calculating growth based on required accuracy.
Step-by-step explanation:
To calculate the market size for both the Low Tech and High Tech segments for Round 1, the given formula can be applied: Next Year's Market Size = Total Market Size * (1 + Demand Growth Rate).
Assuming we have the current market sizes and the growth rates for each segment, we would plug in those numbers accordingly. The question also references two different methods for calculating growth rates. For simplicity, using the first method is sufficient for a rough approximation, but for more accuracy, the second method should be used.
The first method simply takes the change in quantity over the original quantity which gives us a growth rate (e.g., ($1.03 trillion - $1.00 trillion) / $1.00 trillion = 3% growth).
The second method calculates growth based on the average of the two quantities, which results in a slightly different percentage (e.g., 2.96% growth). It's important to choose the method of calculation that aligns with the level of accuracy required for the task at hand.