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- The following data concern one of the most popular products of XYZ Manufacturing. Estimate the selling price per unit.Please show the step by step and complete solution. The answer must be ₱106,116.59Rail Tours, Inc., sells packaged tours on rail lines, including gourmet meals and a reserved bed. The most popular tours are in the autumn, when foliage colors are at their peak. The overnight package for Saturday and Sunday morning are especially heavily booked. A market survey firm has just completed a study in which they conclude that if the package cost is $200 per couple, then Rail Tours can expect to sell 400 spaces on a typical Saturday. If the price is raised to $225, then unit sales will drop to 390. If the price is raised further to $250, unit sales drop to 380. a) From the data given, write down the demand equation and determine its intercepts. Are there any precautions needed when operating at the extreme ends of the demand curve?b) The survey firm also reports that if per capita income changes, Rail Tours can expect a large change in bookings. In particular, if per capita income falls by 1%, then bookings will tend to fall by about 2%. Are tour packages a normal good?…
- I need help with this problem and the answer is not 37.40, 26.93, and 86.2.A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately D = 1560 – 20p units (D is the demand of quantity sold per month, and p is in dollars.) The fixed cost is $800 per month, and the variable cost is $30 per unit produced. The demand that maximizes the revenue is:1-24 A couple of entrepreneurial business students at State University decided to put their education into practice by developing a tutoring company for business students. While private tutoring was offered, it was determined that group tutoring before tests in the large statistics classes would be most beneficial. The students rented a room close to campus for $300 for 3 hours. They developed handouts based on past tests, and these handouts (including color graphs) cost $5 each. The tutor was paid $25 per hour, for a total of $75 for each tutoring session. (a) If students are charged $20 to attend the session, how many students must enroll for the company to break even? (b) A somewhat smaller room is available for $200 for 3 hours. The company is considering this possibility. How would this affect the break-even point?
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- A time-study technician at the Southern Textile Companyhas conducted a time study of a spinning machine operatorthat spins rough cotton yarn into a finer yarn on bobbins foruse in a weaving operation. The time study was requestedas the result of a union grievance. The average cycle time for the operator to replace all the full bobbins on the ma-chine with empty bobbins was 3.62 minutes. The technician assigned an overall performance rating for the job of 100%,and the allowance factor specified by the union contract is15%. Compute the standard time for this job.Please don’t answer subpart A. Subparts D, E, F correspond to question 3 in the 1st photoThese are revision question for my upcoming test. They are from the textbook and are not graded.