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Suppose each period you need to choose a price among {3, 4, 5} to maximize revenue, and now you are at the beginning of period
Suppose each period you need to choose a price among {3, 4, 5} to maximize revenue, and now you are at the beginning of period 7. You have all the historical data from periods 1-6. Let p(t) and d(t) be the price and demand you observed during period t. You have, p(1)=3, d(1)=10; p(2)=4, d(2)=8; p(3)=5, d(3)=7; p(4)=4, d(4)=5; p(5)=4, d(5)=7; p(6)=4, d(6)=8. Let K=1. What price to pick for period 7 and why
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