Draw with hand a neat and organized influence chart for the first problem and write your detailed calculations to the second problem clearly on a piece of paper, take a clear and readable photo for each, paste them in a word file and submit as your deliverable. Alternatively you may type your solutions and submit a Word or Pdf file. Also you can draw the influence chart in Excel using the "Insert>>Shapes" feature and do the calculations for the second problem on an Excel sheet as well.

Submit anything that you can for getting partial extra credit points.

Note that you should write your calculations step by step in details for the second question. Something like breakeven point = 2000 will get no points

Question 1 (10 points): Hasting's Petroleum Company sells two types of gasoline: Regular and Premium. HPC pays $2.00 for each gallon of Regular gasoline and $2.20 for each gallon of Premium gasoline that it sells. The owner's son, Luke Hasting, a business student at UAB, has already analyzed the company's sales and price data. He discovered that the demand for each type of gasoline is influenced by its own price as well as by the price of the other type of gasoline. Luke has estimated that the weekly demand for each type of gasoline can be approximated by the following formulas: Regular Demand = 10,000 - 3,000x Regular Price + 150x PremiumPrice, Premium Demand = 8,000 + 50x Regular Price - 2,200x PremiumPrice. Draw an influence chart for this problem. Question 2 (10 points): A newsboy wants to maximize his profit of selling newspapers. He buys a bunch of newspapers at the beginning of the day for $1 each and sells them throughout the day for $2 each. Suppose exactly 500 people show up to buy a newspaper from him daily. Each unit that he is left with can be salvaged and recycled of which he makes $ 0.5 each. His experience shows that he always ends up with some extra newspapers. How many newspapers should he buy in order to break- even? (show detailed calculations leading to the answer step by step)