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Use a Modern Software Tool to Perform Statistical Calculations -What Is the Average Daily Sale During the Full Retail

question 13

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. $\begin{array}{|l|l|}\hline\text { Marked Down Pricing Model for } \\\text { Fiberia Accessories's new sweater} \\\hline & \\\hline \text { Data } & \\\hline \text { Retail Price } & \\\hline \text { Inventory } & \$ 65 \\\hline \text { Selling Season (days) } & 1500 \\\hline \text { Days at Full Retail } & 60 \\\hline \text { Intermediate Markdown } & 45 \\\hline \text { Clearance Markdown } & 25 \text { percent } \\\hline \text { Demand Function } & 65 \text { percent } \\\hline \text { A } & \\\hline \text { B } & 79.5 \\\hline\end{array}$
-What is the average daily sale during the full retail sales period?

Definitions:

Black Market

An illegal trade of goods or services conducted outside authorized, lawful systems of commerce.

Pricing Transparency

The practice of openly and clearly disclosing the price of goods or services, including any potential fees or charges, to consumers.

Comparison Shop

The act of evaluating similar products or services from different suppliers to determine the best combination of quality, price, and service.

Prestige Pricing

A pricing tactic that involves pricing a product higher than competitors to signal that it is of higher quality.