3. The demand function for an item is given by(20 − p)³X =when 1 ≤p ≤ 20.(a) Find the demand x when price is 10.(b) Find E(p) and E(10).(c) Based on the value of E(10), what happens when we increase prices by 1%?(d) Using the demand in part(a) and the decrease percentage in part (c), estimatethe new demand when price goes from $10 to $10.10 (a 1% increase).(e) Find the actual demand when p = 10.10 and compare with the previous problem.

A demand function is a mathematical function that depicts the relationship between the quantity of…

Answered: 3. The demand function for an item is…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Company XYZ, Inc. purchases widgets from a supplier at a cost of $20 per unit and sells the widgets for $30 per unit. By the end of Spring, demand for these widgets subsided considerably and all widgets that weren't sold during the Spring can be sold at a discounted price of $18 per unit. The company estimates demand during quarter two (Q2) to be normally distributed with mu = ? = 10,000 and sigma = ? =1525 boxes What is the optimal stockout probability for company XYZ, Inc.?
5/Do not solve it in excel, please.
A cement mix company is renowned for providing high strength concrete additives - at high unit cost. It delivers two types of cement additives - Tuf and Rok. In making these additives the company adds two special products, Qikcem and Plascem. These additives contain two (2) basic ingredients: Lime and Flyash, in different proportions, as shown in the table below. Flyash [%] Lime Cost Special Products Qikcem (1) Plascem (2) Availability [kg/hr] 2600 3600 [%] [S/kg] 10 15 45 55 35 65 The cement additive, Tuf should not contain more than 70% of Lime and the cement additive, Rok must contain at least 45% of Flyash. The company can sell at most 800oerkg of its additive products (Tuf and Rok) per hour. There are other limitations and local requirements, as stated beklew: a) Due to the plant installed capacity and personnel requirements, no more than 6000 kg/hour of Tuf can be produced b) The plant has contracted to deliver at least 3500 kg/hour of Tuf c) The company is restricted, by local…
7:17 PM O A D Å ןה.ןא 288 I31) B/s Reserve Board interest-rate increases. Create a spreadsheet to compare the difference in monthly payments for a K552,451 loan having 60 monthly payments for a select number of interest rates. Use 3% as the base APR and go as high as an APR of 12%. Required: Make your spreadsheet flexible enough to be able to look at the impact of the different interest rates for different loan amounts and different repayment periods. Question Two (Evaluating Projects/probabilistic analysis) Malama's Cafe, Inc., is considering investment in two alternative capital budgeting projects. Project A is an investment of ZMK75000 to replace working but obsolete refrigeration equipment. Project B is an investment of ZMK 150000 to expand dining room facilities. Relevant cash flow data for the two projects over their expected 2-year lives are as follows: PROJECT A YEAR ONE YEAR TWO Probability Cash Flow Probability Cash Flow 0.18 ZMK O 0.08 ZMK O ZMK 50,000 ZMK 100, 000 0.64 0.84…
.Substitue for Mandatory problem #2 on exam in attachment )-Calculate the Tracking Signal(RSFE/MAD t) given the following data and an alpha=0.4.MAD t-1=15: Period Actual Demand Forecast Demand Error ................... RSFE MAD t TS 0 Start up Start Up Start Up 15 1 30 45 2 43 3 38 4 37 5 40
The word is out on Dogs 'R GRRRRReat's new loyalty program: The Bark Card. Here are the basis that were advertised in the email blitz that went out earlier this week: The new DRG Bark Card does the following: 1. Customers bring the Bark Card with them whenever they visit DRG and any food, accessory or veterinary service is discounted 25% using the card. When the card is used, it registers the customer’s purchase and contributes to DRG’s records for measurement and evaluation purposes. 2. Quarterly, based on use frequency, Bark Card users will receive additional promotional material in electronic and hard copy formats that can be used for further discounts or points toward significant purchases (veterinary or consumer purchases over $1,500). 3. These offers are also available to all DRG employees, who will be able to add the discount to their current 10% employee discount. Customers apply for the card online through the DRG.com website, where they list their email and physical address,…
Birka Styles & Co is introducing a new line of beachwear for their retail stores. The manager needs to decide how many lots of the new beachwear to order for their stores. The marketing came up with a payoff table (see below) considering information about the price, projected sales level, and cost of inventory and ordering. DEMAND Order size Low Medium High 1 lot 12,000 15,000 15,000 2 lots 9,000 25,000 35,000 3 lots 6,000 35,000 60,000 The owner found out that: P(Low demand) = 1/3; P(Med demand) = 1/2; P(High demand) = 1/6. Which of the following decision is NOT true? A)The best decision is to order 3 lots for a payoff of $29,500. The probabilities gave me enough information to perform a Laplace approach. B)The best decision is to order 3 lots for a payoff of $29,500. The probabilities gave me enough information to perform the EMV approach. C)The EVPI is $2,000. D)The EVwPI is $31,500.
Question 30, Question 31, Question 32, Question 33, Question 34, Question 35, Question 46, Question 47, Question 48, Question 49, Question 50
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