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与你的小组一起,你应该。
1.为你的价格方程确定一个适当的域。回顾一下,需求或价格小于0是不合理的。
2.使用你的成本函数和价格方程来确定商品的收入和利润函数。
3.使用微积分来确定你的函数的最大利润,你将销售的单位数量,以及你将收取的价格,并说明理由。一定要包括一个适当的优化方法(仅仅找到那个关键数字是不够的)。
4.确定你的商品的平均成本和边际平均成本函数。
5.计算并解释利润最大化的x值的边际平均成本。
6.确定如何改进模型或过程,使项目更切合实际。
7.根据反馈意见,完善第二部分的任何问题
8.创建一个提案,与潜在的投资者分享,描述你的产品,你的过程,以及你的结果。
你将提交什么?
一份书面的Word、Powerpoint或PDF文件,可供潜在的投资者审查,以确定你作为一个负责推销产品的商人的才能、实现利润最大化的战略,以及关于如何使用边际平均成本来了解产品成本的知识。
这份文件应该在视觉上易于理解。图片,表格。
该文件应包括以下标题。
o导言。 你的商业计划书的导言–它概述了对你的产品的描述以及人们为什么要购买它。另外,你是在向投资者推销这个销售计划,所以要牢记你的听众。这应该吸引他们想要阅读你出色的、经过研究的建模技巧、预计的利润、以及预期的平均和边际平均月度成本。
o第二部分的所有其他标题,根据反馈意见适当改进,即。
成本估算。 如果一个月内生产了x个单位,说明你的月度总成本函数,并根据你所做的研究,说明根据你所考虑的成本来源,固定成本和可变成本的什么值对这个项目是合理的。包括对你的参考文献列表的行内引用。
单位价格模型。根据需求(x)和你产生需求方程的过程,说明你的单价p的部分。 包括调查对象的数量,原始数据的表格,转换/格式化数据的表格,解释在运行线性和二次回归之前如何以及为什么要转换数据(以及你用什么技术来做任何格式化和回归–附上xls文件或保存/提交所用的Desmos文件的链接)。转换后的数据图(图片),以及线性和二次回归和残差–不要把这些留在数据文件中–哪种回归模型更好,为什么。这将是你在项目最后部分工作时使用的单位价格函数。
o利润函数。 包括收入函数R(x),利润函数P(x),以及这些函数的合理域。解释/包括用于寻找这些函数的计算或推理(上述步骤1和2)。
包括显示最大利润点的利润函数图。
是的,你仍然应该展示唯一确定该最大点的微积分/代数,即使你可以通过追踪在图上找到它。
o最大利润。第3步的工作,以及对该工作的解释,以便于阅读。它应该包括对最大利润的明确说明,为达到该利润而销售的商品数量,以及根据你的单价模型,你为获得该水平的需求而收取的价格。
o平均成本和边际平均成本。
总结步骤4和5的工作。最后说明这些信息的作用,并解释在这个生产水平上边际平均成本的大小是否重要,以及为什么。
o改进的潜力。这是你对自己能力的介绍,但如果你得到这份工作,并有机会生产和销售这个项目,你可能会改变这个过程,使它更真实地反映预期的成本和利润。解释在模型或过程中应该做的任何改进,以及作为一个真正的商业分析家,你将如何做这件事。
o参考文献列表。你所研究的任何支持你的成本函数的信息都应该根据来源进行引用。MLA或APA格式都可以接受。
You will submit your completed final project here.
Final Project Instructions:
With your group, you should:
- Determine an appropriate domain for your price equation. Recall that it is not reasonable to have demand or price less than 0.
- Use your cost function and price equation to determine a revenue and profit function for the commodity
- Use calculus to determine and justify the maximum profit for your function, the number of units you would sell, and the price you would charge. Be sure to include an appropriate optimization method (just finding that critical number is not enough).
- Determine the average cost and marginal average cost function for your commodity.
- Compute and interpret marginal average cost at the x value for which profit is maximized.
- Identify how the models or process could have been improved to make the project more realistic
- Refine any issues from Part 2 based on feedback
- Create a proposal to share with potential investors describing your product, your process, and your results
What you will submit:
- A written Word, Powerpoint, or PDF document that could be reviewed by potential investors to determine your talents as a businessperson tasked with pitching a product, a strategy for maximizing profit, and knowledge of how marginal average cost might be used to understand the costs of the product.
- This document should be visually easy to understand. Images, tables,
- That document should include the following headings:
- Introduction: The introduction to your business proposal–which outlines the description of your product and why people want to buy it. Also, you are pitching this sales plan to an investor, so keep your audience in mind. This should draw them in to wanting to read your excellent, researched modeling skills, projected profits, and anticipated average and marginal average monthly costs.
- All other headings from Part 2, properly improved based upon feedback, namely:
- Cost Estimates: A section that states your estimated total monthly cost function if x units are manufactured in one month, and that explains, based on the research you did, what values of fixed and variable costs make sense for this item, based on the sources of cost you are accounting for. Include in-line citations to your reference list.
- Unit price model: A section that states your unit price p based on demand (x) and the process by which you generated a demand equation. Include how many respondents to the survey, a table with your raw data, a table of your converted/formatted data, explain how and why the data was converted prior to running linear and quadratic regressions (and what technology you used to do any formatting and the regression–attach the xls file or save/submit link to the Desmos file used), a plot (image)of your converted data along with the linear and quadratic regressions and residuals–don’t just leave these in the data file–which regression model was better, and why. That will be your unit price function used as you work on the final portion of the project
- Profit Function: Include a revenue function, R(x), Profit function P(x), and reasonable domain for these functions. Explain/include calculations or reasoning used to find them (steps 1 and 2 above).
- Include a graph of the profit function indicating the maximum profit point
- Yes, you still should show the calculus/algebra that uniquely identifies that maximum point, even though you can find it on the graph by tracing.
- Maximal Profit: Work from step 3, along with explanations of that work, so it is easy read. It should include a clear statement of the maximum profit, the number of items sold to reach that profit, and the price you would be charging to get that level of demand, based on your unit price model.
- Average costs and Marginal Average costs:
- Summarize the work in steps 4 and 5. Conclude with a statement of how that information is useful, and explain whether the size of the marginal average cost at this level of production is significant or not, and why.
- Potential for Improvement: This was your pitch of what you can do, but if you land this job and get the chance to make and sell this item, you might change the process so that it more realistically could reflect expected costs and profits. Explain any improvements that should be made in the model or process and how you would do this as a real business analyst.
- Reference List: Any information you researched that supports your cost function should be referenced according to source. Either MLA or APA formatting is acceptable.
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