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hi Gromit
Required:
(a) Suggest a pricing strategy for iTTrain, including an evaluation of the initial price of $750 per delegate suggested by Marco. Your strategy should include both financial and non-financial considerations. (16 marks)
the model answer for this question has a table showing a calculation of expected contribution using AQT figures. My question is, could points have been earned without such a table?
eg. by making the point that he would have to offer the same discounts that AQT offered and the host sites, the cap of 40 course available
Yes, points could certainly earned without constructing the table. You have to bear in mind that there are 16 marks for this, so you have to say quite a bit. 16 marks – 29 minutes.
Sir,
Could please explain to me how they arrived at the probability figures?
I can’t figure it out.
Thank you.
They have data about 1000 courses. 150 of those have 3 delegates so the probability of a course having just 3 delegates is 150/1000 = 0.15
Similarly, the probability of 4 delegates is 210/1000 = 0.21
etc.
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