build a model. In addition, perform a sensitivity analysis and construct a Tornado Chart. 1) You have been asked to build…
build a model. In addition, perform a sensitivity analysis and construct a Tornado Chart. 1)You have been asked to build a model to help determine the advertising budget for your company for a specific product. The product sells for $10 and has a $9 cost to produce each unit as well as a fixed cost of $10,000. Your marketing department estimates that demand as a function of advertising budget can be expressed as follows: Demand = 333.8 * Advertising^(.454)
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