Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question: Do a two-way data table model and explain how a joint change in the number of VTM2016 ordered, and the number of demands impacts

Question: Do a two-way data table model and explain how a joint change in the number of VTM2016 ordered, and the number of demands impacts their profit.

The Public Works Department in Georgetown has a mechanical shop liable for selling an inspector, called Vehicle Testing Monitor 2016 (VTM 2016), which will be retailed for $500. The director, Erick, wants a model to help him obtain an adequate number of VTM2016. Erick can get the testers from the manufacture, but the total value depends on the quantity requested, as shown in Table 1. Erick is uncertain about the demand for the VTM2016. He predicts that the need could be the range from 300 to 2000. Also, the next year VTM 2017 will be in the market, if Erick has VTM2016 left, he will put them on clearance for $200, at which price it considers all leftovers will be sold.

Table 1

the unit cost is $450, if the number ordered is <100

the unit cost is $400, if the number ordered is 100-200

the unit cost is $350, if the number ordered is 200-300

the unit cost is $300, if the number ordered is 300-400

the unit cost is $250, if the number ordered is 400-500

the unit cost is $200, if the number ordered is 500-600

the unit cost is $150, if the number ordered is >600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linear Algebra A Modern Introduction

Authors: David Poole

3rd edition

9781133169574 , 978-0538735452

More Books

Students also viewed these Mathematics questions