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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.