Overview
You should first read and watch the 5.4 Analytics - Pricing tutorials before starting this submission. This assignment is untimed, but you only have one submission (practice following tutorial examples and building your own spreadsheets or files). Plan to submit this assignment when you have sufficient time (there are 7 problems). There are multiple questions being pooled for each type of problem in this is a multiple choice quiz.
Note: Be sure to save your work on the analytics for submission at the end of the quiz, as well as further review. After the due date you can review professor feedback to get help to fix any errors for partial credit as similar analytic questions are on the final exam too.
5.4 Tutorials(21 pages) This is a PDF document with the slides used for the 6 tutorials below. Each tutorial includes explanations on concepts and the analytics for each of these example scenario problems. 5.4 Tutorial Slide Handout ownload 5.4 Tutorial Slide Handout
Price Elasticity - (6 minutes) Example of price elasticity or demand elasticity (solve manually).
Differential Pricing - (9 minutes) Example of differential price and profit analysis (solve manually and with Excel).
Single Pricing - (4 minutes) Example of single price and profit analysis (solve manually and with Excel).
Capacity Constraints - (9 minutes) Example pricing with capacity constraints (solve with Excel Solver).
Unable to activate Solver? As 1.4 Descriptive Statistics introduced, this is an add-in for Excel that you may need to enable. If you get a compile error, it may be associated to ActiveX which needs to be enabled (click on File>Options, Trust Center > Trust Center Settings > ActiveX Settings, select enable and OK).
Overbooking - (8 minutes) Understand this term and work though example overbooking pricing (solve with Excel).
Long-Term Bulk vs. Spot Market - (6.5 minutes) Understand both these terms and work through example determining long-term bulk quantity versus spot market purchases (solve with Excel).
(OPTIONAL, 6 minutes) Excel Goal Seek demonstration which is a simplified optimization scenario tool. When you know the result you want from a formula, but are not sure of the inputs needed in the formula, we can use this tool.