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Modelling Assignment- The school tuck shop

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Introduction

Modelling Assignment- The school tuck shop Statement of the problem I am going to investigate the sales in a school tuck shop so I can maximize the products by changing the selling price. I am going to set up the model by using Microsoft excel and preparing a spreadsheet to put my data in. For each model, I will put the product, cost price, selling price, profit per item, sales and the overall profit, which is the most important that I am looking for. I will compare my results with the real data, and decide whether my results fit with the real data. If then I find that my model is not good enough, I will have to change some of my rules from my model. E.g.- change the selling price to coincide with the cost price etc. I will then be able to see if my model reflects the real data more closely. Annotated Hard Copies This is the original data from PART 1 of my modelling assessment. In this part, I had to find out the profit made per item, (mars, crisps, spira), record the original sales, the actual profit made for each product and the overall profit made by the tuck shop. ...read more.

Middle

�0.10 �0.37 �0.27 73 �19.71 �0.10 �0.38 �0.28 69 �19.32 �0.10 �0.39 �0.29 65 �18.85 �0.10 �0.40 �0.30 61 �18.30 �0.10 �0.41 �0.31 57 �17.67 �0.10 �0.42 �0.32 53 �16.96 �0.10 �0.43 �0.33 49 �16.17 I have found out that the best selling price when I increase the price is at 33p, as I get an overall profit of �20.47. This is my formula for this section on crisps. PRODUCT COSTPRICE SELL PRICE PROFIT P.ITEM SALES OVERALL PROFIT Crisps 0.1 0.23 =C47-B47 129 =E47*D47 0.1 =C47+0.01 =C48-B48 =E47-4 =E48*D48 0.1 =C48+0.01 =C49-B49 =E48-4 =E49*D49 0.1 =C49+0.01 =C50-B50 =E49-4 =E50*D50 0.1 =C50+0.01 =C51-B51 =E50-4 =E51*D51 0.1 =C51+0.01 =C52-B52 =E51-4 =E52*D52 0.1 =C52+0.01 =C53-B53 =E52-4 =E53*D53 0.1 =C53+0.01 =C54-B54 =E53-4 =E54*D54 0.1 =C54+0.01 =C55-B55 =E54-4 =E55*D55 0.1 =C55+0.01 =C56-B56 =E55-4 =E56*D56 0.1 =C56+0.01 =C57-B57 =E56-4 =E57*D57 0.1 =C57+0.01 =C58-B58 =E57-4 =E58*D58 0.1 =C58+0.01 =C59-B59 =E58-4 =E59*D59 0.1 =C59+0.01 =C60-B60 =E59-4 =E60*D60 0.1 =C60+0.01 =C61-B61 =E60-4 =E61*D61 0.1 =C61+0.01 =C62-B62 =E61-4 =E62*D62 0.1 =C62+0.01 =C63-B63 =E62-4 =E63*D63 0.1 =C63+0.01 =C64-B64 =E63-4 =E64*D64 0.1 =C64+0.01 =C65-B65 =E64-4 =E65*D65 0.1 =C65+0.01 =C66-B66 =E65-4 =E66*D66 0.1 =C66+0.01 =C67-B67 =E66-4 =E67*D67 Now I try to find the best profit maker if I reduce the price of crisps, my range is given from 23p to 0.3p. ...read more.

Conclusion

PRODUCT COST PRICE SELL PRICE PROFIT P.ITEM SALES OVERALL PROFIT SPIRA 0.18 0.23 =C94-B94 76 =E94*D94 0.18 =C94-0.01 =C95-B95 =E94-4 =E95*D95 0.18 =C95-0.01 =C96-B96 =E95-4 =E96*D96 0.18 =C96-0.01 =C97-B97 =E96-4 =E97*D97 0.18 =C97-0.01 =C98-B98 =E97-4 =E98*D98 0.18 =C98-0.01 =C99-B99 =E98-4 =E99*D99 0.18 =C99-0.01 =C100-B100 =E99-4 =E100*D100 0.18 =C100-0.01 =C101-B101 =E100-4 =E101*D101 0.18 =C101-0.01 =C102-B102 =E101-4 =E102*D102 0.18 =C102-0.01 =C103-B103 =E102-4 =E103*D103 0.18 =C103-0.01 =C104-B104 =E103-4 =E104*D104 0.18 =C104-0.01 =C105-B105 =E104-4 =E105*D105 0.18 =C105-0.01 =C106-B106 =E105-4 =E106*D106 0.18 =C106-0.01 =C107-B107 =E106-4 =E107*D107 0.18 =C107-0.01 =C108-B108 =E107-4 =E108*D108 0.18 =C108-0.01 =C109-B109 =E108-4 =E109*D109 0.18 =C109-0.01 =C110-B110 =E109-4 =E110*D110 0.18 =C110-0.01 =C111-B111 =E110-4 =E111*D111 0.18 =C111-0.01 =C112-B112 =E111-4 =E112*D112 0.18 =C112-0.01 =C113-B113 =E112-4 =E113*D113 0.18 =C113-0.01 =C114-B114 =E113-4 =E114*D114 This is my final profit table. It shows the new prices that I have found to be the best, and also shows the profit made. If you compare this table to the first, we can see that the new prices have really made a difference on the intake of profit. The profit was not high for spira, as there were not as many salesfor this product. Product Costprice(p) SellPrice(p) Profit Mars 14p 32p 20.16 Crisps 10p 33p 20.47 Spira 18p 30p 5.76 Overall profit 46.39 This pie chart shows the percentage of profit intake. The results of my profit investigaion show that genrally increasing the price of a product, you will have more profit. this was ...read more.

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