Question: One weekend when you reduced prices 5%, your store had sales of $58,000. The next weekend, with a 15% reduction, your sales were $92,000. The
One weekend when you reduced prices 5%, your store had sales of $58,000. The next weekend, with a 15% reduction, your sales were $92,000. The weekend after that, with a 17.5% reduction, sales were $95,000.
a. Based on this information, what sales would you expect with a 10% price reduction?
b. What sales would you expect with a 20% price reduction?
c. Which estimate, sales at a 10% price reduction or sales at a 20% price reduction (if either), would you feel better about?
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