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Define, Discuss and give example for the following terms:
1. Market variables
2. Product variables
3. Company variables
4. Intermediary variables
5. Environmental variables
6. Behavioral variables
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- The model in Example 9.3 has only two market outcomes, good and bad, and two corresponding predictions, good and bad. Modify the decision tree by allowing three outcomes and three predictions: good, fair, and bad. You can change the inputs to the model (monetary values and probabilities) in any reasonable way you like. Then you will also have to modify the Bayes rule calculations. You can decide whether it is easier to modify the existing tree or start from scratch with a new tree.48- The maximum number of sales that can occur in a given period to an individual or businesses that are willing to sell in a given market is known as: a. Product demand b. Market potential c. Market demand d. All the options are correctDefine, Discuss and give example for the following terms:1. Intermediary variables2. Environmental variables3. Behavioral variables
- Suppose you were preparing two-way tables of percentages for the following pairs of variables. How would you run the percentages? Crime rate and unemployment rateIdentify which type of analysis best fits each of the following descriptions. Requires the use of a computer Allows for probabilities to be assigned Includes the use of break-even analysis options; SCENARIO SENSITIVITY SIMULATIONWhat is the difference between a dependent and an independent variable?
- Develop a spreadsheet for the question. The vice president of finance has looked at your ooriginal scoring model and feels that tax considerations should be included in teh model with a weight of 15. In addition, the VP has scored the methods on tax considerations as follows: method A recieved a score of 3, method B recieved a score of 2, and Method C recieved a score of 1. How would this additional information affect your recommendation?What is the distinction between a dependent variable and an independent variable?Use the below formula to calculate the CLV for the following: A manager of a cable company wants to determine if it is strategic to acquire the Brett family, by estimating their household-level CLV. The manager estimates that it will cost the company $80 (A) to get the Bretts’ to switch, and the Bretts’ will generate $150 profit each year (M), with a $30 annual marketing cost to retain them (C). The estimated retention rate (r) is 65%, and the current discount rate is 5%.(d) i) CLV= ii) Based on your calculation, are the Brett’s profitable to the cable company?
- To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Table shows the value of food and beverage sales ($1000s) for the first three years of operation. Food and Beverage Sales for the Vintage Restaurant ($1000s) Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Managerial Report Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following: A time series plot. Comment on the underlying pattern in the time series.…A careful analysis of the cost of operating an automobile was conducted by accounting manager Dia Bandaly. The following model was developed: y = 3,600+ 0.16x, where y is the annual cost and x is the miles driven. a) If the car is driven 15,000 miles this year, the forecasted cost of operating this automobile = $ b) If the car is driven 26,000 miles this year, the forecasted cost of operating this automobile = $ (enter your response as a whole number). (enter your response as a whole number).To find the profit on the varying prices of a candy bar you will use: a. One variable Data Table b. Two variable Data Table c. Goal Seek d. None of these