Question: Questions: The optimization job -Pick F that maximizes the expected profit (i.e. optimization) -a and b need to be estimated from data -If a=2, b=0,

Questions: The optimization job

-Pick F that maximizes the expected profit (i.e. optimization)

-a and b need to be estimated from data

-If a=2, b=0, M=2, and P=4. What's the optimal value for F?

-If a=2, b=1, M=2, and P=4. What's the optimal value for F?

Note: "exp" in the purchase probability equation means exponential.

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