A "What-If" analysis: An electronics store sells two models of television. The sales of these two models, X and Y, are dependent, that is, if the price of one increases, the demand for the other increases. A study is made to find the relationship between the demand (D) and the price (P) in order to maximize the revenue from these products. The study resulted in the following two equations: Dx = 476 - 0.54 Px+ 0.22 Py Dy = 601 + 0.12 Px - 0.54 PY These equations can be implemented in Excel as following: TV X price TVY price 100 100 =476- 0.54*B1+0.22*B2 =601+0.12*B1- 0.54*B2 =B1*B3+B2*B4 Demand X Demand Y Revenue Copy-and-paste, or type, the Excel information given above into cells A1:B5 of an Excel spreadsheet. Develop a two-way data table to estimate the optimal prices of each of the two products in order to maximize the total revenue. Vary the price of each product from 600 to 1000 in increments of 50. TV X price A TVY price

A "What-If" analysis: An electronics store sells two models of television. The sales of these two models, X and Y, are dependent, that is, if the price of one increases, the demand for the other increases. A study is made to find the relationship between the demand (D) and the price (P) in order to maximize the revenue from these products. The study resulted in the following two equations: Dx = 476 - 0.54 Px+ 0.22 Py Dy = 601 + 0.12 Px - 0.54 PY These equations can be implemented in Excel as following: TV X price TVY price 100 100 =476- 0.54B1+0.22B2 =601+0.12B1- 0.54B2 =B1B3+B2B4 Demand X Demand Y Revenue Copy-and-paste, or type, the Excel information given above into cells A1:B5 of an Excel spreadsheet. Develop a two-way data table to estimate the optimal prices of each of the two products in order to maximize the total revenue. Vary the price of each product from 600 to 1000 in increments of 50. TV X price A TVY price

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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