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Question 1 - Customers (5 points) Lang Lang is a music professor who has been tasked to purchase a piano his music conservatory. He is
Question 1 - Customers (5 points) Lang Lang is a music professor who has been tasked to purchase a piano his music conservatory. He is evaluating three competing pianos on five attributes. His dollar valuations for each of those attributes for all three pianos are listed below. His overall valuation for each piano model is the sum of the valuations of all the attributes. Yamaha U3 Boston 52 Kawai K8 Sound Quality $5100 $4750 $4100 Reliability $1800 $1200 $2800 Brand $1950 $1300 $800 Design $750 $1200 $500 Warranty $1100 $550 $300 The price of each piano that Lang Lang was quoted are given below: Yamaha U3 Boston 52 Kawai K8 Price $10750 $11100 $7900 a. Between the Yamaha U3, Boston 52, and Kawai K8, which piano model will Lang Lang choose? (3 points) b. Suppose you are the manager for Boston 52. By how much must you lower the current price to ensure that Lang Lang will choose your piano? (2 points)
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