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I am struggling with a calculation for a firm's share of requirements. Any help would be greatly appreciated! They want me to calculate share of
I am struggling with a calculation for a firm's share of requirements. Any help would be greatly appreciated! They want me to calculate share of requirements for the Element Bar. The correct answer is 0.67, but I keep getting wrong answer.
Element Bar Sales $52 million Industry Sales $398 million Size of target market 15.0 million consumers Category purchases by Element Bar customers $77.5 million Number of purchasers of Element Bars 0.8 million Number of purchasers of any nutrition bar 7.6 million Largest competitor's market share 8.5% Calculate share of requirements for Element Bar. Report your answer to two decimal places. Element Bar Sales $52 million Industry Sales $398 million Size of target market 15.0 million consumers Category purchases by Element Bar customers $77.5 million Number of purchasers of Element Bars 0.8 million Number of purchasers of any nutrition bar 7.6 million Largest competitor's market share 8.5% Calculate share of requirements for Element Bar. Report your answer to two decimal placesStep by Step Solution
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