Question: Could someone solve 1 and 2 ? Math 1 0 5 Optimization Project You will produce a memo to the Chief Operating Officer ( COO
Could someone solve and
Math Optimization Project
You will produce a memo to the Chief Operating Officer COO of the company detailing your work from the following prompts. Be sure to include all necessary formulas. Include an analysis of the profits, justification for the results, and a summary of the findings.
Below is a company's first two quarter's sales for their Tshirt and Jeans. The company decided to raise prices between the first and second quarter of the year.
Below is the company's costs associated with both the Tshirts and Jeans.
What price should we sell the Tshirt and jeans in order to maximize revenue? What will be the corresponding demand for the maximum price? Justify your answers with all supporting work.
What is an approximate cost curve for each product? How much product must be bought to minimize the cost for each? Approximately how often will the products be ordered? What is the cost per item?
Estimate the maximum profit and put forth an explanation and justification for your results. What was the profit or loss per item? How can the company increase the profits or decrease their losses
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
