Plots 2 0 0 Cost Per Plot $ 1 , 0 0 , 0 0 0 Average
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Question:
Plots
Cost Per Plot $
Average Board Feet
Pine
Pine Price $
Poplar
Poplar Price $
Spruce
Spruce Price $
Total Cost $
Gross Profit $
Net Profit $
Bayside Logging
You are an owner of a logging company looking to bid on the plots you plan to cut this year. You need to perform some analysis of the risk, reward, and breakeven points based on how many plots you purchase, the average production per plot, and the cost you pay per plot. Historically, the distribution of the type of trees on these plots are consistent and the price for each type of tree have been estimated for the season.
Goal Seek
You had to purchase new machinery to harvest the wood for this season. You need to determine how many board feet you need to average to cover the cost of the new machinery.
a Use Goal Seek to determine what the Average Board Feet must be if you bid on plots at $ each to cover your $ million machinery cost.
Related Book For
An Introduction To Statistical Methods And Data Analysis
ISBN: 9781305465527
7th Edition
Authors: R. Lyman Ott, Micheal T. Longnecker
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