TCOM 101 Lecture 2: tcomm lecture 2
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15 Feb 2017
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Suitstore often has a deal in which men can buy one suit and get two free. The information below contains the valuations of 50 representative customers for one, two, or three suits. Suppose it costs Suitstore $150 to ready a suit for sale. What strategy maximizes Suitstore's profit: charging a single price for each suit, charging a single price for two suits, or charging a single price for three suits? (Please use excel and show work)
Customer | 1 suit | 2 suits | 3 suits |
1 | 153 | 298.35 | 443.7 |
2 | 297 | 522.72 | 748.44 |
3 | 299 | 565.11 | 831.22 |
4 | 295 | 501.5 | 708 |
5 | 265 | 490.25 | 715.5 |
6 | 114 | 208.62 | 303.24 |
7 | 148 | 288.6 | 429.2 |
8 | 115 | 204.7 | 294.4 |
9 | 278 | 514.3 | 750.6 |
10 | 223 | 394.71 | 566.42 |
11 | 248 | 468.72 | 689.44 |
12 | 150 | 255 | 360 |
13 | 248 | 429.04 | 610.08 |
14 | 215 | 371.95 | 528.9 |
15 | 216 | 390.96 | 565.92 |
16 | 262 | 495.18 | 728.36 |
17 | 274 | 501.42 | 728.84 |
18 | 182 | 338.52 | 495.04 |
19 | 300 | 540 | 780 |
20 | 217 | 429.66 | 642.32 |
21 | 249 | 423.3 | 597.6 |
22 | 261 | 472.41 | 683.82 |
23 | 300 | 555 | 810 |
24 | 212 | 371 | 530 |
25 | 248 | 434 | 620 |
26 | 223 | 419.24 | 615.48 |
27 | 211 | 411.45 | 611.9 |
28 | 107 | 203.3 | 299.6 |
29 | 114 | 208.62 | 303.24 |
30 | 137 | 264.41 | 391.82 |
31 | 259 | 461.02 | 663.04 |
32 | 143 | 277.42 | 411.84 |
33 | 120 | 224.4 | 328.8 |
34 | 237 | 459.78 | 682.56 |
35 | 113 | 226 | 339 |
36 | 184 | 320.16 | 456.32 |
37 | 159 | 284.61 | 410.22 |
38 | 186 | 318.06 | 450.12 |
39 | 257 | 511.43 | 765.86 |
40 | 145 | 252.3 | 359.6 |
41 | 223 | 443.77 | 664.54 |
42 | 207 | 387.09 | 567.18 |
43 | 199 | 346.26 | 493.52 |
44 | 188 | 329 | 470 |
45 | 144 | 249.12 | 354.24 |
46 | 235 | 413.6 | 592.2 |
47 | 218 | 383.68 | 549.36 |
48 | 120 | 234 | 348 |
49 | 197 | 392.03 | 587.06 |
50 | 205 | 387.45 | 569.9 |