Question: 2. Develop a spreadsheet model for Problem 5 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to

2. Develop a spreadsheet model for Problem 5 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to create a table for a range of prices to help you identify the price that results in the maximum revenue.

Problem 5, chapter 1 below:

5. Classify each of the data elements in the Sales Transactions database (Figure 1.1) as categorical, ordinal, interval, or ratio data and explain why. Sales Transaction database; Customer ID, region, payment type, transaction code, source of the sale, amount, product purchased, and time of day.

2. Develop a spreadsheet model for Problem 5 in Chapter 1. Apply

the principles of spreadsheet engineering in developing your model. Use the spreadsheet

Figure 1.2 A Portion of Excel File Sales Transactions Database 1 Sales Transactions: July 14 Cust ID Ree Pa ent Transaction Code Source On 4 10001 East Paypal 93816545 Web 5 10002 West Credit 74083490 Web 64942368 6 10003 North Credit Web 7 10004 West Paypal 70560957 Email 8 10005 South Credit 35208817 Web 9 10006 West Paypal 20978903 Email 80103311 10 10007 East Credit Web 11 10008 West Credit Web 14132683 12 10009 West Paypal 40128225 Web 49073721 Web 13 10010 South Paypal Amount Product Time Of Da $20.19 DVD 22:19 $17.85 DVD 13:27 $23.98 DVD 14:27 $23.51 Book 15:38 $15.33 Book 15:21 $17.30 DVD 13:11 $177.72 Book 21:59 4:04 $21.76 Book $15.92 DVD 19:35 $23.39 DVD 13:26 Figure 1.2 A Portion of Excel File Sales Transactions Database 1 Sales Transactions: July 14 Cust ID Ree Pa ent Transaction Code Source On 4 10001 East Paypal 93816545 Web 5 10002 West Credit 74083490 Web 64942368 6 10003 North Credit Web 7 10004 West Paypal 70560957 Email 8 10005 South Credit 35208817 Web 9 10006 West Paypal 20978903 Email 80103311 10 10007 East Credit Web 11 10008 West Credit Web 14132683 12 10009 West Paypal 40128225 Web 49073721 Web 13 10010 South Paypal Amount Product Time Of Da $20.19 DVD 22:19 $17.85 DVD 13:27 $23.98 DVD 14:27 $23.51 Book 15:38 $15.33 Book 15:21 $17.30 DVD 13:11 $177.72 Book 21:59 4:04 $21.76 Book $15.92 DVD 19:35 $23.39 DVD 13:26

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