A video store manager observes that the number of DVDs sold seems to vary inversely as...
A video store manager observes that the number of DVDs sold seems to vary inversely as the price per DVD. If the store sells 710710 DVDs per week when the price per DVD is $18.90$18.90, how many does he expect to sell if he lowers the price to $11.40$11.40? Round your answer to the nearest integer.
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A video store manager observes that the number of DVDs sold
seems to vary inversely as...
A retail store is currently short of a certain product, and the manager is now planning...
A retail store is currently short of a certain product, and the manager is now planning on how many amounts of such product to import for the sales of them in next month. The store pays $20 (the import price) per unit of the product, and then sells it for $30 (the marked price in that store) per unit. However, if the store is not able to sell these imported products in the next month, these products must be disposed...
The manager of the Sell-Rite drug store accidentaly mismarked a shipment of 20-pound bags of charcoal...
The manager of the Sell-Rite drug store accidentaly mismarked a shipment of 20-pound bags of charcoal at $4.38 instead of the regular price of $5.18. At the end of a week, the store's inventory of 200 bags of charcoal was completely sold out. The store normally sells an average of 150 bags per week. i) What is the store's arc elasticity of demand for charcoal? ii) Give an economic interpretation of the numerical value obtained in part a (i).
A department store manager has monitored the number of complaints received per week about poor service....
A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the table. Number of complaints 0 1 2 3 4 5 Probability 0.16 0.26 0.35 0.10 0.08 0.05 What is the probability of between 3 and 5 (inclusive) complaints received per week? Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g.,...
The manager at the local store of a national home improvement chain is studying their inventory...
The manager at the local store of a national home improvement chain is studying their inventory system. He has chosen one high volume product as the first product to examine. The historical supply and demand data for this item has indicated a constant lead time of 16 days. Demand per day (d) is normally distributed with a mean demand of 2000 per day and standard deviation of 240 per day. He plans to set the in-stock probability (or service level)...
Breakeven analysis Barry Carter is considering opening a used book store. He wants to estimate the...
Breakeven analysis Barry Carter is considering opening a used book store. He wants to estimate the number of books he must sell to break even. The books will be sold for $13.83 each, variable operating costs are 59 83 per book, and annual fixed operating costs are 573,200 a. Find the operating breakeven point in number of books b. Calculate the total operating costs at the breakeven volume found in part (a) c. If Barry estimates that at a minimum...
0 Sub Haven, a small sandwich store, is located on a busy corner near many other...
0 Sub Haven, a small sandwich store, is located on a busy corner near many other businesses. The shop's busiest time is during the mid-day period. Rent for the location is $900 per month, and wages amount to $2800 per month. Variable costs consist of supplies and sandwich ingredients that cost $2.07 per sub sandwich. The subs are to be sold at a price of $5.99 each. Answer each of the following independent questions (a) How many sandwiches must the...
Transfer Pricing with Idle Capacity Oriole, Inc., owns a number of food service companies. Two divisions...
Transfer Pricing with Idle Capacity Oriole, Inc., owns a number of food service companies. Two divisions are the Coffee Division and the Donut Shop Division. The Coffee Division purchases and roasts coffee beans for sale to supermarkets and specialty shops. The Donut Shop Division operates a chain of donut shops where the donuts are made on the premises. Coffee is an important item for sale along with the donuts and, to date, has been purchased from the Coffee Division. Company...
Come-Clean Corporation produces a variety of cleaning compounds and solutions for both industrial and household use....
Come-Clean Corporation produces a variety of cleaning compounds and solutions for both industrial and household use. While most of its products are processed independently, a few are related, such as the company’s Grit 337 and its Sparkle silver polish. Grit 337 is a coarse cleaning powder with many industrial uses. It costs $1.20 a pound to make, and it has a selling price of $11.40 a pound. A small portion of the annual production of Grit 337 is retained in...
Please help! especially part c,d,e. part a answer: Excel = Norm.Inv (0.889, 2500, 400) = 2989 part b answer: Excel = Norm.inv (0.95, 2500, 400) =...
Please help! especially part c,d,e.
part a answer:
Excel = Norm.Inv (0.889, 2500, 400)
= 2989
part b answer:
Excel
= Norm.inv (0.95, 2500, 400)
= 3158
ABC Sportswear company designs and sells wetsuits to the U.S. market. The designs of the wetsuits are updated each year. The process for updating the design typically starts in January the year before the designs are to be released. At this time, the purchasing, design, and sales departments have a two-day meeting to...
Please help! especially part c,d,e. I have found the answer for part a and b, so please help me part c,d, and especially part e! part a answer: Excel = Norm.Inv (0.889, 2500, 400) = 29...
Please help! especially part c,d,e. I have found the answer for
part a and b, so please help me part c,d, and especially part
e!
part a answer:
Excel = Norm.Inv (0.889, 2500, 400)
= 2989
part b answer:
Excel
= Norm.inv (0.95, 2500, 400)
= 3158
ABC Sportswear company designs and sells wetsuits to the U.S. market. The designs of the wetsuits are updated each year. The process for updating the design typically starts in January the year before...
The manager of the Sell-Rite drug store accidentaly mismarked a shipment of 20-pound bags of charcoal at $4.38 instead of the regular price of $5.18. At the end of a week, the store's inventory of 200 bags of charcoal was completely sold out. The store normally sells an average of 150 bags per week. i) What is the store's arc elasticity of demand for charcoal? ii) Give an economic interpretation of the numerical value obtained in part a (i).
Breakeven analysis Barry Carter is considering opening a used book store. He wants to estimate the number of books he must sell to break even. The books will be sold for $13.83 each, variable operating costs are 59 83 per book, and annual fixed operating costs are 573,200 a. Find the operating breakeven point in number of books b. Calculate the total operating costs at the breakeven volume found in part (a) c. If Barry estimates that at a minimum...
0 Sub Haven, a small sandwich store, is located on a busy corner near many other businesses. The shop's busiest time is during the mid-day period. Rent for the location is $900 per month, and wages amount to $2800 per month. Variable costs consist of supplies and sandwich ingredients that cost $2.07 per sub sandwich. The subs are to be sold at a price of $5.99 each. Answer each of the following independent questions (a) How many sandwiches must the...
Please help! especially part c,d,e.
part a answer:
Excel = Norm.Inv (0.889, 2500, 400)
= 2989
part b answer:
Excel
= Norm.inv (0.95, 2500, 400)
= 3158
ABC Sportswear company designs and sells wetsuits to the U.S. market. The designs of the wetsuits are updated each year. The process for updating the design typically starts in January the year before the designs are to be released. At this time, the purchasing, design, and sales departments have a two-day meeting to...
Please help! especially part c,d,e. I have found the answer for
part a and b, so please help me part c,d, and especially part
e!
part a answer:
Excel = Norm.Inv (0.889, 2500, 400)
= 2989
part b answer:
Excel
= Norm.inv (0.95, 2500, 400)
= 3158
ABC Sportswear company designs and sells wetsuits to the U.S. market. The designs of the wetsuits are updated each year. The process for updating the design typically starts in January the year before...
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