Question
Please help! - Solve the following problem statement - `````````````````````````````````````````````````````````````````````````````````````` Delta Airlines has frequent (every hour or every two hours) flights between key metropolises in
Please help! - Solve the following problem statement -
``````````````````````````````````````````````````````````````````````````````````````
Delta Airlines has frequent (every hour or every two hours) flights between key metropolises in the Northeast - they call these flights the "Delta Shuttle" service.At the time of writing this problem set, the Shuttle service is offered between New York and Boston (LGA-BOS), DC (LGA-DCA), and Chicago (LGA-ORD).
In the late 90s, Delta offered special student pricing on the Boston route, perhaps due to the fact that Boston is a college city (Boston University, Boston College, MIT, Harvard, etc.), but then discontinued the program in early 2000.Now Delta is re-considering decisions on their shuttle route.The MD-88 plane has 148 seats and the Embraer 175 has 76 seats.
``````````````````````````````````````````````````````````````````````````````````````
1.Graph quantity (x-axis) v price (y-axis) for the business and youth segment.So you should have two separate charts.Add a trendline to each chart & include the formula for the trendline.
2.On a new sheet in your Excel, using the trendlines for prices between $220 and $20 (at increments of $10) find the quantity each segment will buy, as predicted by the trendlines.So now you should have a new sheet with Price, Quantity Predicted Y, and Quantity Predicted B.
HINT: your trendline from (1) will be in the format of Price = a*Quantity + b.To do (2) you will need to use algebra to get the formula so that it is Quantity = c*Price + d.
3.Using what you did in (2), find marginal revenue for each segment.
4What is the marginal cost (MC)? find the marginal cost
``````````````````````````````````````````````````````````````````````````````````````
REFERENCES BELOW
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started