Essay
Anna operates a consignment shop where she sells cloths for women and children. The average consignments sold per month is 1000. The average material cost and the selling price of each consignment is $8 and $20, respectively.
The monthly fixed cost to run this business is given below:
Rental cost: $750
Utilities: $150
Advertising: $35
Insurance: $100
Labor cost: $4000 a. Build an influence diagram that illustrates how to calculate profit.
b. Using mathematical notation, give a mathematical model for calculating profit.
c. Implement your model from part (b) in Excel using the principles of good spreadsheet design.
Correct Answer:
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a.
b. Let R - Rental cost
U - Utiliti...View Answer
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Correct Answer:
Verified
b. Let R - Rental cost
U - Utiliti...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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