I have made three datasets available to you on e learning. They are all in EXCEL files. As you will discover it prices of certain products over time. And these prices vary over time. Prices also vary across retail outlets. And finally prices vary across models/products/SKUs. I would like you to answer the following questions using one or tow of the datasets chosen by you. I don not want you to use all three datasets.

1. (10 points) In looking at price variations in the dataset put forth why these may be occurring based on your understanding of consumer demand and economic theory.

1. (10 points) Answer either (a) or (b) below

1. How can a manufacturer of product (not the retailer) use the data on prices to improve marketing decisions, including of-course price? In other words, is the data value to him/her, and if so in what way?

1. How can a retailer (not the manufacturer of product) use the data on prices to improve marketing decisions, including of-course price? In other words, is the data value to him/her, and if so in what way?

(5 points) Given your answer to Q2, suggest ways to make the data more useful.