An electronics store sells two popular models of wireless headphones, model A and model B. The sales of these products are not independent of each other (ineconomics, we call these substitutable products because if the price of one increases, sales of the other will increase). The store wishes to establish a pricing policyto maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of eachmodel:NA = 25 - 0.62PA+0.38P8Ng = 26 +0.12PA-0.66PBDevelop a spreadsheet for calculating the total revenue if PA = $17 and PB = $28. Design it so that the price-demand function parameters can easily be changed.Complete the spreadsheet below.(Type integers or decimals. Round the quantities to the nearest integer as needed. Do not include the $ symbol in your answers.)Model Parameters for QTY SoldConstantModelPriceCoeff Price ACoeff Price BQuantity SoldRevenue3.ioB.Total RevenuertEBAClear allCheck answerHelp me solve thisView an exampleGet more help-

Answered: An electronics store sells two popular…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Projected Consumer Goods Exports 600 Hong Kong Dollar (million) 500 400 300 200 100 0+ Y 300 60 330 + 70 Y + 1 350 80 Y+2 Year 420 80 Y+3 450 90 Y+4 Exchange Rates for Year Y $4.50 Hong Kong Dollar (HKD) $1 Singapore Dollar (SGD) $1.60 Singapore Dollar (SGD) $1 US Dollar (USD) Hong Kong Singapore According to this projection, what would be the value (in HKD) of Hong Kong's exports in Y+4? $500 million $501 million $502 million $503 million $504 million
Table: The Market for Chocolate-Covered Peanuts Price (per bag) Quantity Demanded (bags per month) Quantity Supplied (bags per month) $0.90 70 280 $0.80 105 245 $0.70 140 210 $0.60 175 175 $0.50 210 140 $0.40 245 105 $0.30 280 70 Reference: Ref 3-5 Table: The Market for Chocolate-Covered Peanuts (Table: The Market for Chocolate-Covered Peanuts) Use Table: The Market for Chocolate-Covered Peanuts. A shortage of 210 bags of chocolate-covered peanuts per month exists if the price is _____ per bag. Question 1 options: $0.60 $0.40 $0.30 $0.80
6. Yet another company has studied the market and found that demand for their items indicate that if they set a price of $50 each, they would expect to sell 1000 units. However, if they set their price to $45 each, the could sell 1200 units. Their wholesaler as indicated they would supply 1000 units at a price of $40 each, but for every $10 increase in price, they would supply 400 more units. a. Find the linear demand function. b. Find the linear supply function c. Find the market equilibrium (equilibrium price and quantity) d. If the company produces 500units, is there going to be a shortage or a surplus? Why?
A cost accountant is attempting to find a linear model that describes the cost of producing a firms product. She has the following data: Units Costs engage 5000 $110,000 6000 $135,000 7000 $155,000 8000 $180,000 Units Costs at 5000 $110,000 g 6000 $135,000 7000 $155,000 8000 $180,000 O A. C(x) = 18x B. C(x) = 150000 C. C(x) = 18x + 28000 7 O D. C(x) = 28x + 18000 %3D Find the linear model by using linear regression analysis which best describes cost as a function of the number of units produced. er P Click to select your answer. int 5 N La new bome with a purchase price of $275.000 financed at an annual interest rate of 3 6% compounded MAR PAGEN étv A DOCX MacBook Air 20 DD F7 DII F2 F4 F6 F8 F9 F10 F11 @ %$4 & 4. W- E T Y D G K %#3
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Suppose an economy has only two sectors: Goods and Services. Each year, Goods sells 80% of its outputs to Services and keeps the rest, while Services sells 60% of its output to Goods and retains the rest. Find equilibrium prices for the annual outputs of the Goods and Services sectors that make each sector's income match its expenditures. 0.2 Goods 0.8 0.6 Services Denote the prices (that is, dollar values) of the total annual outputs of the Goods and Services sectors by PG and Ps, respectively. If ps = $1000, then PG = $ (Type an integer or a decimal.) 0.4
4. The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price decreases, demand increases and vic versa. One major airline has found that when the price (P) for a round trip between Chicago and Los Angeles is $600, the demand (D) is 500 passengers per day. When the price is reduced to $400, demand is 1,200 passengers per day. a. Plot these points on a coordinate system and develop a function that relates demand to price. b. Develop a model that will determine the total revenue as a function of the price.
Can you help with parts g, h, and i please? The Admission director for a college far from mart and town believes that an inverse relationship exists between a private college's average discount rate(determined by the average amount of scholarships students receive) and the annual yield (the percentage of admitted students who actually attend). The Director's independent variable is a private college's discount rate measured as a percentage, and the dependent variable is the college's annual yield measured as a percentage. The following results were obtained for a sample of 30 private colleges: x- Discount rate(percentage) - range: 35 to 72 percent y- Annual Yield(percentage) - range: 12 o 81 percent Σxi = 1612 Σyi = 898Σxiyi = 44,377Σxi2 = 89,790Σyi2 = 35,704 a. Calculate the sample regression line's slope estimate. Interpret the sample regression line's slope estimate.b. Calculate the sample regression line's intercept estimate. Interpret the sample regression line's intercept…
Consider the following model of a monopolistic form, where P is the sale price of the good, MC is marginal cost of producing the good and q is quantity produced (assumed equal to quantity sold) the firm has to sell all units of the good at the same price. p=10-2q MC=2+q If the firm produces 3 units, what total revenue will it receive? a. £4 b. £6 c. £12 d. £24
1. The yearly data have been published showing the number of releases for each of the commercial movie studios and the gross receipts for those studios thus far. No. of releases (x) 361 270 306 22 35 10 8 12 21 Gross receipts (y) (million $)| 3844 1962 1371 1064 334 241 188 154 125 (a) Based on these data, can it be concluded that there is a linear relationship between the number of releases and the gross receipts? (b) Find y' when x = 200 new releases (c) Find the 95% prediction interval when x = 200 new releases 2. An economics student wishes to see if there is a relationship between the amount of state debt per capita and the amount of tax per capita at the state level. Per capita debt (x) 1924 907 1445 1608 661 Per capita tax (y) 1685 1838 1734 1842 1317 (a) Based on the data, can they conclude that per capita state debt and per capita state taxes are related? Both amounts are in dollars and represent five randomly selected states. (b) Find y' when x = $1500 in per capita debt (c)…
4. Suppose the cost function for machine A has the following characteristics: a. it is linear, b. when the machine is not producing parts the cost is $200, c. cost of producing each part is $4 (i.e., variable cost is $4 per part). Suppose the cost function for machine B has the following characteristics: a. it is linear, b. when the machine is not producing parts the cost is $270, c. cost of producing each part is $3 (i.e., variable cost is $3 per part). A. Find the cost equations for machine A; place in function form. Define your variables B. Find the cost equations for machine B; place in function form. Define your variables (use variables that are different than variables used in Part A) C. Determine the break even point. (Determine this algebraically, not graphically; be sure to show your work.) D. Provide a graph of these two cost functions. Label the 1. Axes, 2. Break even point as an ordered pair, and 3. The two functions. E. To minimize cost, what production…
Fuel efficiency, measured in miles per gallon, is a feature often considered by shoppers looking for a new car. The scatterplot shows the vehicle weight of 15 car models in pounds, plotted against their highway fuel efficiency. Which of the labeled points on the graph would be considered a high leverage point? point A point B point C point D

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