Use a Modern Software Tool to Perform Statistical Calculations -Calculate the Total Revenue for the New Line of Sweaters

question 29

Multiple Choice

Use a modern software tool to perform statistical calculations.
Use the table below to answer the following question(s) .
Fiberia Accessories, a clothing retailer, is planning to introduce a new line of sweaters as part of the winter collection for $65 with an inventory of 1500. The main selling season is 60 days between November and December. The store then sells the remaining units in a clearance sale at 65 percent discount. Out of the 60 main retail days, Fiberia sells the sweaters at full retail price for only 45 days, while giving a discount of 25 percent for the remaining 15 days. The demand functions a, and b are given as 79.5 and 1.1 respectively. $\begin{array}{|l|l|}\hline\text { Marked Down Pricing Model for } \\\text { Fiberia Accessories's new sweater} \\\hline & \\\hline \text { Data } & \\\hline \text { Retail Price } & \\\hline \text { Inventory } & \$ 65 \\\hline \text { Selling Season (days) } & 1500 \\\hline \text { Days at Full Retail } & 60 \\\hline \text { Intermediate Markdown } & 45 \\\hline \text { Clearance Markdown } & 25 \text { percent } \\\hline \text { Demand Function } & 65 \text { percent } \\\hline \text { A } & \\\hline \text { B } & 79.5 \\\hline\end{array}$
-Calculate the total revenue for the new line of sweaters.

• A) $59,426.25
• B) $48,871.88
• C) $23,400
• D) $43,231.09

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Definitions:

Concern For Others

The consideration and empathy shown towards the feelings, needs, and wellbeing of other individuals.

Violent

Characterized by strong physical force intended to cause damage or injury to persons or property.

Avoidance-Avoidance Conflict

A psychological conflict that arises when an individual is forced to choose between two equally unattractive options.

Negative Outcomes

Results of actions or events that are unfavorable, harmful, or contrary to desired objectives.