Question: The Firm Chair Company manufactures customized wood furniture and sells
The Firm Chair Company manufactures customized wood furniture and sells the furniture in large quantities to major furniture retailers. Jim Bolling has recently been assigned to analyze the company’s pricing policy. He has been told that quantity discounts were usually given. For example, for one type of chair, the pricing changed at quantities of 200 and 400—that is, these were the price breaks, where the marginal cost of the next chair changed. For this type of chair, the file Firm Chair.xlsx contains the quantity and total price to the customer for 81 orders. Use regression to help Jim discover the pricing structure that Firm Chair evidently used.
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