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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 (in economics, 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 policy to 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 each model: NA = 25 -0.62PA+0.38P3 Ng = 26 +0.12PA-0.66PB Develop 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 Sold Constant Model Price Coeff Price A Coeff Price B Quantity Sold Revenue io Total Revenue rt

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 (in economics, 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 policy to 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 each model: NA = 25 -0.62PA+0.38P3 Ng = 26 +0.12PA-0.66PB Develop 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 Sold Constant Model Price Coeff Price A Coeff Price B Quantity Sold Revenue io Total Revenue rt

Advanced Engineering Mathematics
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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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 (in economics, 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 policy to 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 each model: NA = 25 - 0.62PA+0.38P8 Ng = 26 +0.12PA-0.66PB Develop 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 Sold Constant Model Price Coeff Price A Coeff Price B Quantity Sold Revenue 3. io B. Total Revenue rt EBA Clear all Check answer Help me solve this View an example Get more help-
Transcribed Image Text: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 (in economics, 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 policy to 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 each model: NA = 25 - 0.62PA+0.38P8 Ng = 26 +0.12PA-0.66PB Develop 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 Sold Constant Model Price Coeff Price A Coeff Price B Quantity Sold Revenue 3. io B. Total Revenue rt EBA Clear all Check answer Help me solve this View an example Get more help-
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