Assume the price points of the three products are listed in the table below: Product Price $8.30 Tide 128 oz Tide 64 oz Wisk 64 oz $4.30 $4.00 The store's ACV is 31,000. Predict the "unit sales" for Tide 64 oz in the store in a typical week (i.e, week = 0) when there is in-store promotion (i.e., promoflag 1). Hint: use the log-lincar demand model you derived in (1).

Assume the price points of the three products are listed in the table below: Product Price $8.30 Tide 128 oz Tide 64 oz Wisk 64 oz $4.30 $4.00 The store's ACV is 31,000. Predict the "unit sales" for Tide 64 oz in the store in a typical week (i.e, week = 0) when there is in-store promotion (i.e., promoflag 1). Hint: use the log-lincar demand model you derived in (1).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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protect the unit sales for tide 64 based on the log Lennar demand model and the following chart.

Assume the price points of the three products are listed in the table below:
Product
Tide 128 oz
Price
$8.30
Tide 64 oz
$4.30
Wisk 64 oz
$4.00
The store's ACV is 31,000. Predict the "unit sales" for Tide 64 oz in the store in a typical week (i.e., week
0) when there is in-store promotion (i.e., promoflag 1).
Hint: use the log-linear demand model you derived in (1).

(1) Log Demand Model for Tide 64
Ln(Sales Velocity of Tide64 / ACV) = -2.679 + 0.906 Ln(Price of Tide128) - 3.765
Ln(Price of Tide 64) + 0.533 Ln(Price of Wisk64) + 0.27 Promotion Flag -0.007
Week

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