Question
Fiberia, a clothing retailer, is planning to introduce a new line of sweaters as part of the winter collection for $65 with an inventory of
Fiberia, a clothing retailer, is planning to introduce a new line of sweaters as part of the winter collection for $65 with an inventory of 1500. The main selling season is 60 days between November and December. The store then sells the remaining units in a clearance sale at 65% discount. Out of the 60 main retail days, Fiberia sells the sweaters at full retail price for only 45 days, while giving a discount of 25% for the remaining 15 days. The daily demand as a function of price is an equation with a and b parameters given as 79.5 and 1.1 respectively.
Calculate the total revenue for the new line of sweaters assuming that all 1500 units are sold?
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