Mathematics, 21.02.2020 02:30, jasmine3051
Bernie Hsiao runs a lamp-making business. He has two lines of lamps: antler lamps and fishing rod lamps. It costs him $10,000 a year to run his business (labor, materials, and overhead). The estimated demand for antler lamps is anywhere from 100 to 200 units. The estimated demand for fishing rod lamps is 300 to 400 units. He charges $2000 for antler lamps and $200 for fishing rod lamps. However, he incurs $750 in variable costs per antler lamp sold and $30 for each fishing rod lamp sold.
a. What are Bernie’s expected/average revenues from antler lamps? What are Bernie’s expected/average revenues from fishing rod lamps? What is the total expected/average revenue Bernie’s lamp business could generate? What is the range of total expected/average profit?
b. What are the expected/average costs associated with the lamp business? Identify the costs associated with antler lamps, fishing rod lamps, and costs associated with both.
c. Does Bernie make a profit in the case of low estimated demand for each lamp?
d. Does Bernie make a profit in the case of high estimated demand for each lamp?
e. If half of the fixed costs are attributable to antler lamps, how much do the antler lamps contribute to this profit? If half the fixed costs are attributable to fishing rod lamps, how much do the fishing rod lamps contribute to this profit?
Answers: 2
Mathematics, 21.06.2019 16:30, shyann78
In two or more complete sentences, formulate how to use technology to calculate the appropriate regression model for the given data. you are not required to find the model, just choose the appropriate regression and explain how to use the technology. (-5,,2.,0.8), (0,-0.5), (2,-1.3), (3,-0.8), (5,2)
Answers: 2
Bernie Hsiao runs a lamp-making business. He has two lines of lamps: antler lamps and fishing rod la...
Mathematics, 17.02.2021 22:20
Mathematics, 17.02.2021 22:20
Mathematics, 17.02.2021 22:20
Mathematics, 17.02.2021 22:20
Mathematics, 17.02.2021 22:20
Mathematics, 17.02.2021 22:20