Hello everyone,
I am trying to solve a business/economics problem.
Below is the data:
Should the price change (from scenario 1 to scenario 2) be retained or reverted? Show calculations.
Also, is there any correlation between Mattress and Pillow?
I am trying to solve a business/economics problem.
Below is the data:
Pillow Price p.u. | Mattress sold | Pillows sold | Pillow revenue | Pillow production cost | |
Scenario 1 | 65 € | 3,016 | 801 | 25,536 € | 16,020 € |
Scenario 2 | 55 € | 4,229 | 1,772 | 49,424 € | 35,440 € |
Should the price change (from scenario 1 to scenario 2) be retained or reverted? Show calculations.
Also, is there any correlation between Mattress and Pillow?