How can I found the Response rate using the goal seek function to the below question
How can I found the Response rate using the goal seek function to the below question?
Question 2-2 (Chapter 2)
Continuing the previous problem, use Goal Seek for each value of number mailed (once for 80,000, once for 90,000, and so on). For each, find the response rate that allows the company to break even. Then chart these values, where the number mailed is on the horizontal axis, and the breakeven response rate is on the vertical axis. Explain the behavior in this chart in a brief memo to management. (Winston, 20180101, p. 38)
Winston, W. L., Albright, S. C. (20180101). Practical Management Science, 6th Edition. [[VitalSource Bookshelf version]]. Retrieved from vbk://9781337671989
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images