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The problem: Example 2.

1, page 23
It is March, and the annual NCAA Basketball Tournament is down to the final four teams. Randy Kitc
T-shirt vendor who plans to order T-shirts with the names of the final four teams from a manufactur
then sell them to the fans. The fixed cost of any order is $750, the variable cost per T-shirt to Rand
and Randy's selling price is $18. However, this price will be charged only until a week after the tou

After that time, Randy figures that interest in the T-shirts will be low, so he plans to sell all remainin
T-shirts, if any, at $6 each. His best guess is that demand for the T-shirts during the full-price perio
1500. He is thinking about ordering 1450 T-shirts, but he wants to build a spreadsheet model that w
experiment with the uncertain demand and his order quantity. How should he proceed?

Objective:
To build a spreadsheet model in a series of stages, all stages being correct but each stage being m
readable and flexible than the previous stages.
our teams. Randy Kitchell is a
ms from a manufacturer and
ost per T-shirt to Randy is $8,
l a week after the tournament.

ans to sell all remaining


ng the full-price period will be
eadsheet model that will let him
e proceed?

t each stage being more


A B C D
1 NCAA t-shirt sales: Figure 2.1, page 24
2
3 Demand 1500
4 Order 1450
5 Profit 13750
A B C D
1 NCAA t-shirt sales: Figure 2.2, page 25
2
3 Fixed order cost $750
4 Variable cost $8
5 Selling price $18
6 Discount price $6
7
8 Demand 1500
9 Order 1450
10 Profit $13,750
A B C D
1 NCAA t-shirt sales: Figure 2.3, page 25
2
3 Fixed order cost $750
4 Variable cost $8
5 Selling price $18
6 Discount price $6
7
8 Demand 1500
9 Order 1450
10 Profit $13,750
A B
1 NCAA t-shirt sales: Figure 2.4, page 25
2
3 Fixed order cost $750
4 Variable cost $8
5 Selling price $18
6 Discount price $6
7
8 Demand 1500
9 Order 1450
10
11 Sales
12 Full-price shirts sold 1450
13 Discount-price shirts sold 0
14
15 Costs
16 Fixed cost 750
17 Total variable costs 11600
18
19 Revenues
20 Full-price shirts 26100
21 Discount-price shirts 0
22 Profit 13750
A B C D E F G
1 NCAA t-shirt sales: Figure 2.5, page 26
2 Demand ='Model 5'!$B$10
3 Input variables Discount_price ='Model 5'!$B$7
4 Fixed order cost $750 Discount_price_shirts ='Model 5'!$B$26
5 Variable cost $8 Discount_price_shirts_sold ='Model 5'!$B$18
6 Selling price $18 Fixed_cost ='Model 5'!$B$21
7 Discount price $6 Fixed_order_cost ='Model 5'!$B$4
8 Full_price_shirts ='Model 5'!$B$25
9 Uncertain variable Full_price_shirts_sold ='Model 5'!$B$17
10 Demand 1500 Order ='Model 5'!$B$13
11 Profit ='Model 4'!$B$22
12 Decision variable Selling_price ='Model 5'!$B$6
13 Order 1450 Total_variable_costs ='Model 4'!$B$17
14 Variable_cost ='Model 5'!$B$5
15 Output variables Variable_costs ='Model 5'!$B$22
16 Sales
17 Full-price shirts sold 1450
18 Discount-price shirts sold 0
19
20 Costs
21 Fixed cost 750
22 Variable costs 11600
23
24 Revenues
25 Full-price shirts 26100
26 Discount-price shirts 0
27 Profit 13750

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