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Michael is the sales manager for Audi cars in California, and he wants to decide about changing the price of 2020 Audi A8. Fortunately, he

Michael is the sales manager for Audi cars in California, and he wants to decide about changing the price of 2020 Audi A8. Fortunately, he has access to sales data from 50 different dealerships in California . He believes the sales of 2020 Audi A8 is affected by the price of 2020 Audi A8, 2020 Audi A6, 2020 Audi A4, 2020 Audi S8 and 2020 Audi S3.

Let Y= the sales of 2020 Audi A8

X1= 2020 Audi A8 Price

X2= 2020 Audi A6 Price

X3= 2020 Audi A4 Price

X4= 2020 Audi S8 Price

X5= 2020 Audi S3 Price

Assume unit manufacturing cost of 2020 Audi A8 is $70K. Then the optimal price of 2020 Audi A8 is:

82.11

94.2

91.86

86.36

image text in transcribed

image text in transcribed

Dealership A4-Price (K) 1 2 3 4 S3-Price (K) 40 43 44 45 40 59 01 co 7 8 41 40 45 58 9 10 11 12 13 14 15 16 17 18 A8-Sales A8-Price (K) A6-Price (K) 90 87 62 89 61 88 54 84 58 85 187 80 28 90 34 80 61 87 200 80 27 89 47 85 41 80 50 89 176 83 20 89 40 87 46 90 63 90 61 85 23 89 38 90 54 199 82 56 84 22 80 50 29 56 199 41 37 37 42 42 30 41 36 36 29 39 39 40 41 30 35 37 39 38 39 39 37 28 39 41 44 41 43 41 51 45 41 41 S8-Price (K) 129.3 126 128.4 126. 1 129.2 140 125.1 127.7 125.3 139 126.8 129.4 129.5 129.5 139 126.4 125.3 129 129.7 126.5 125.3 129.7 141 125.6 128.6 127.9 128.5 125.3 138 51 OKS 40 43 43 43 19 20 21 22 23 24 25 26 27 60 40 45 43 45 58 32 33 34 35 36 37 90 82 89 82 89 42 43 43 42 41 42 38 39 40 154 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 36 38 40 36 36 35 37 35 42 39 39 36 37 37 36 35 36 41 38 37.14 41 42 141 125.8 129.5 127.8 128. 2 128.7 127 128.9 127.3 128.7 127.4 126.9 126.5 126.2 125.9 127.3 125. 3 129. 1 128.5 128.3 125.4 128.94 41 42 42 45 45 44 43 41 44 43 41 43 42 43.94 43 44 45 46 85 47 48 Average 85. 48 54.70 Dealership A4-Price (K) 1 2 3 4 S3-Price (K) 40 43 44 45 40 59 01 co 7 8 41 40 45 58 9 10 11 12 13 14 15 16 17 18 A8-Sales A8-Price (K) A6-Price (K) 90 87 62 89 61 88 54 84 58 85 187 80 28 90 34 80 61 87 200 80 27 89 47 85 41 80 50 89 176 83 20 89 40 87 46 90 63 90 61 85 23 89 38 90 54 199 82 56 84 22 80 50 29 56 199 41 37 37 42 42 30 41 36 36 29 39 39 40 41 30 35 37 39 38 39 39 37 28 39 41 44 41 43 41 51 45 41 41 S8-Price (K) 129.3 126 128.4 126. 1 129.2 140 125.1 127.7 125.3 139 126.8 129.4 129.5 129.5 139 126.4 125.3 129 129.7 126.5 125.3 129.7 141 125.6 128.6 127.9 128.5 125.3 138 51 OKS 40 43 43 43 19 20 21 22 23 24 25 26 27 60 40 45 43 45 58 32 33 34 35 36 37 90 82 89 82 89 42 43 43 42 41 42 38 39 40 154 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 36 38 40 36 36 35 37 35 42 39 39 36 37 37 36 35 36 41 38 37.14 41 42 141 125.8 129.5 127.8 128. 2 128.7 127 128.9 127.3 128.7 127.4 126.9 126.5 126.2 125.9 127.3 125. 3 129. 1 128.5 128.3 125.4 128.94 41 42 42 45 45 44 43 41 44 43 41 43 42 43.94 43 44 45 46 85 47 48 Average 85. 48 54.70

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