Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6

Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.1CE

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