Question 18 0/5 points A local dental practice decides to run a Groupon campaign. The campaign offered $360 worth of dental services (such as teeth whitening) for $150. For the total campaign, 245 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let's assume that 27% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 60%. Finally, the bill for the average Groupon customer was $390. The dental practice negotiated a 50/50 split with Groupon. Calculate the cost per new customer. Answer: × (989) Question 10
Question 18 0/5 points A local dental practice decides to run a Groupon campaign. The campaign offered $360 worth of dental services (such as teeth whitening) for $150. For the total campaign, 245 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let's assume that 27% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 60%. Finally, the bill for the average Groupon customer was $390. The dental practice negotiated a 50/50 split with Groupon. Calculate the cost per new customer. Answer: × (989) Question 10
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 18
0/5 points
A local dental practice decides to run a Groupon campaign. The campaign offered $360 worth of dental services (such
as teeth whitening) for $150. For the total campaign, 245 coupons were sold. We estimate that 85% of the coupons will
be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon
customers purchased 1.5 coupons. Let's assume that 27% of new customers come back after the Groupon coupon visit.
The dental practice estimates its cost of goods sold to be 60%. Finally, the bill for the average Groupon customer was
$390. The dental practice negotiated a 50/50 split with Groupon.
Calculate the cost per new customer.
Answer:
× (989)
Question 10
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