Show the work in Excel , use SOLVE

A women's clothing retail chain has collected data on pricing and sales over the last five years at its flagship store in Charleston, SC. These data were used to estimate a regression equation that relates price to demand. The following estimated equation relates demand to the price for summer dresses:

Y=1000-1.89p

Where Y=the demand for summer dresses and p=price per dress.

Summer dresses cost (c) $210 to produce. The data also show that when a summer dress is sold, on average one pair of shoes and one purse are sold with the dress. The profit on a pair of shoes is $18 and the profit on a purse is $26.

a) What is the profit-maximizing price for dresses, ignoring the profit associated with the accompanying shoe and purse?

Hint: To find the profit for just the dresses, you should multiply demand (Y) by (the price of the dress minus the cost of the dress). Profit = Y*(p-c) = (1000-1.89p)*(p-c)

b) What is the associated Total Profit due to Dresses, Purses, and Shoes in part a?

Hint: You should also calculate the profit due to the sales of dresses from Shoes and the profit due to the sales of dresses from Purses. Demand*(profit of shoes) and Demand*(profit*purses)

c) Rerun your optimization maximizing over the Profit due to Dresses, Purses and Shoes. What is the profit-maximizing prices for dresses now that you are taking into account the accompanying shoe and purse purchase?

d) What is the associated Total Profit due to Dresses, Purses, and Shoes in part c?

Round to two decimals, no commas, and no dollar signs.A women's clothing retail chain has collected data on pricing and sales over the last five years at its flagship store in Charleston, SC. These data were used to estimate a regression equation that relates price to demand. The following estimated equation relates demand to the price for summer dresses:

Y=1000-1.89p

Where Y=the demand for summer dresses and p=price per dress.

Summer dresses cost (c) $210 to produce. The data also show that when a summer dress is sold, on average one pair of shoes and one purse are sold with the dress. The profit on a pair of shoes is $18 and the profit on a purse is $26.

a) What is the profit-maximizing price for dresses, ignoring the profit associated with the accompanying shoe and purse?

Hint: To find the profit for just the dresses, you should multiply demand (Y) by (the price of the dress minus the cost of the dress). Profit = Y*(p-c) = (1000-1.89p)*(p-c)

b) What is the associated Total Profit due to Dresses, Purses, and Shoes in part a?

Hint: You should also calculate the profit due to the sales of dresses from Shoes and the profit due to the sales of dresses from Purses. Demand*(profit of shoes) and Demand*(profit*purses)

c) Rerun your optimization maximizing over the Profit due to Dresses, Purses and Shoes. What is the profit-maximizing prices for dresses now that you are taking into account the accompanying shoe and purse purchase?

d) What is the associated Total Profit due to Dresses, Purses, and Shoes in part c?

Round to two decimals, no commas, and no dollar signs.

e. Based on your results, discuss the difference in prices obtained for the dresses and which strategy you would pursue and why. Do not just say you will go with the one that makes more money, justify your strategy.