Fresh Food has recently carried out a survey of the demand for their seasonal fruits. They observed the following outcomes over the last seven months: (table attached as a photo) Regression (Equation) QSold = 8536.213882 - 835.7223514 Price + 0.592228496 Advertising A. Estimate sales when the price is $50 and advertising is $100,000, stating any assumption that you need to make. B. If the firm charges $50 and cost per unit is $30 but increases advertising to $110,000, what conclusions can you derive
Fresh Food has recently carried out a survey of the demand for their seasonal fruits. They observed the following outcomes over the last seven months: (table attached as a photo) Regression (Equation) QSold = 8536.213882 - 835.7223514 Price + 0.592228496 Advertising A. Estimate sales when the price is $50 and advertising is $100,000, stating any assumption that you need to make. B. If the firm charges $50 and cost per unit is $30 but increases advertising to $110,000, what conclusions can you derive
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Fresh Food has recently carried out a survey of the demand for their seasonal fruits. They observed the following
outcomes over the last seven months:
(table attached as a photo)
Regression (Equation)
QSold = 8536.213882 - 835.7223514 Price + 0.592228496 Advertising
A. Estimate sales when the price is $50 and advertising is $100,000, stating any assumption that you need to make.
B. If the firm charges $50 and cost per unit is $30 but increases advertising to $110,000, what conclusions can you derive
in terms of revenues and profits?
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