Statistics Solutions

Solution: You have just been hired as manager of a new health spa in Retirement Village, Florida. The owner has commissioned a market study that estimates

Question: You have just been hired as manager of a new health spa in Retirement Village, Florida. The owner has commissioned a market study that estimates the average customer’s monthly demand curve for visiting the health spa to be \[{{Q}^{d}}=50-.25P\] . The cost of operating is \[C\left( Q \right)=3Q\] , where Q is the number of visits. The owner has been charging a $20 per-month membership fee and a $5 per-visit fee. Part of your salary is 10 percent of the monthly profits. Suggest a pricing strategy that will increase your salary.

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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