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Hi Sir,
I have read through all the thread regarding this module in opentuition.I gt the answer correct for Q2.
However, I am stucked with Q3, Q4 & Q5
With regards to Q3, how much additional profit would be generated if $250,000 spent on automated ticket barrier investment?
I am wondering since the equation is Y= constant+ (a)X1 +(b)X2+(c)X3+ (d) X4,
I knw that the c will be $250,000, however, I have no idea what to put for a,b &d? is it put 0? I have tried, but it doesn’t work. Hopefully sir can helpI do know that additional profit= additional revenue becoz no variable cost.
Also, need some guidance for Q4 & Q5
Thank you sir
Please see my posts on this thread https://opentuition.com/topic/ethics-and-professional-skills-module-unit-7 – if you work through the illustration first you should understand how everything hangs together.
Hi sir,
For this question “In 2017 how much was the total sales in $m (excluding bakery sales)?”
why the answer cannot be given as 25000000?@Seshi “In $m” means the # of millions – i.e. the number before the 000000.
How much extra ticket sales are generated per 1,000 population on the nearest $?
How much additional profit would be generated if $250,000 were spent on automated ticket barrier investment?
can anyone help me please?
Please see my posts on this thread https://opentuition.com/topic/ethics-and-professional-skills-module-unit-7 – if you work through the illustration first , as directed by the course, you should understand how everything hangs together.
I read all the post from Kim but I still stuck in Q3 and Q5 in unit 7. Can anyone give me some directions? I have no idea whether Q3 is related to Q2. If it is not related, extra profit means extra sales here as no other variable cost except automated ticket barrier investment. Therefore, I used linear equation to find out the answer: y = -63,964.57 + 1.1336* 250,000
but it turns out wrong.For Q5, I am confused how population will affect the sales if no purchase is provided.
@magggggie26 Welcome to the forum!
For Q3, just don’t panic … if you go through my points you will get the correct answer https://opentuition.com/topic/ethics-and-professional-skills-module-unit-7
Re Q5, I don’t know what “purchase” information you are looking for for a requirement that asks for sales (i.e. revenue) – not profit.
I went through your points and the example of BBQ cases but still struggling in both questions…
For Q3, Additional revenue = additional profit (because there is no variable cost of sale) so it is the amount of investment that you need to deduct.
(63,964.58)
150 35,243.50
15000 6,093.71
220000 (250k-30k) 249,396.91
3.00 35,337.92
Sum 262,107.46I got the above for sales
profit = Sales ticket – amount of investment (262,107.46 – 220,000)
additional profit 42,107.46 – 16,719.22 = 25,288.24
but this is not the answer…For Q5, if the only variables is population per town, why I can’t get the question correct by using linear regression y=a+bx which a = -63964.57, b=0.40624 and x=1000? I got a negative answer…
Pls guide where is wrong.
Thank you very much@magggggie26 – see on this post https://opentuition.com/topic/ethics-and-professional-skills-module-unit-7 – my post “February 6, 2020 at 8:36 am” – you have not identified the 3rd variable correctly.
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