A local dental practice decides to run a Groupon campaign. The campaign offered$350 worth of dental services (such as teeth whitening) for $145. For the totalcampaign, 230 coupons were sold. We estimate that 85% of the coupons will beredeemed, that 35% of the coupons will be redeemed by existing customers andthat, on average, Groupon customers purchased 1.5 coupons. Let's assume that 25%of new customers come back after the Groupon coupon visit. The dental practiceestimates its cost of goods sold to be 60%. Finally, the bill for the average Grouponcustomer was $380. The dental practice negotiated a 50/50 split with Groupon.Calculate the Groupon campaign profit/loss (+/-).Your Answer:Answer

Revenue shared$16675redeemable coupons230 x 85% = 195.5new customers195.5 x 95% = 185.725actual…

Answered: A local dental practice decides to run…

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter6: Statistical Inference

Section: Chapter Questions

Problem 41P

See similar textbooks

Similar questions

A local dental practice decides to run a Groupon campaign. The campaign offered $340 worth of dental services (such as teeth whitening) for $155. For the total campaign, 250 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let's assume that 24% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 50%. Finally, the bill for the average Groupon customer was $390. The dental practice negotiated a 50/50 split with Groupon. Calculate the expenses of the Groupon campaign. Your Answer: Answer
A local dental practice decides to run a Groupon campaign. The campaign offered $370 worth of dental services (such as teeth whitening) for $150. For the total campaign, 240 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let's assume that 23% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 45%. Finally, the bill for the average Groupon customer was $395. The dental practice negotiated a 50/50 split with Groupon. Calculate the expenses of the Groupon campaign. Answer: x (36,261)
A local dental practice decides to run a Groupon campaign. The campaign offered $340 worth of dental services (such as teeth whitening) for $135. For the total campaign, 255 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let's assume that 29% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 45%. Finally, the bill for the average Groupon customer was $380. The dental practice negotiated a 50/50 split with Groupon. Calculate the number of new customers. Answer: x (27)
A local dental practice decides to run a Groupon campaign. The campaign offered $340 worth of dental services (such as teeth whitening) for $145. For the total campaign, 250 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let’s assume that 23% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 45%. Finally, the bill for the average Groupon customer was $395. The dental practice negotiated a 50/50 split with Groupon. Calculate the Groupon campaign profit/loss (+/-). Please do fast ASAP fast
Please do not provide answer in image formate thank you. A local dental practice decides to run a Groupon campaign. The campaign offered $345 worth of dental services (such as teeth whitening) for $145. For the total campaign, 225 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon customers purchased 1.5 coupons. Let’s assume that 30% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 60%. Finally, the bill for the average Groupon customer was $380. The dental practice negotiated a 50/50 split with Groupon. Calculate the breakeven revenue for a new Groupon customer. Answer: 334.60 Incorrect Response (2,071)
Rose is in the beauty industry. Rose offers a promotion that if customers buy X cosmetics for $30,000, they will get 10 free massages. Know that the listed price of Rose per massage is $500 and the normal selling price of Rose cosmetics without the promotion is $26,000. According to experience, the manager estimates that there is a 90% chance that customers will use massage vouchers. Revenue of cosmetics will be: a. $25.574 b. $25.000 c. $26.000 d. $4.426 Please do not provide handwritten solution
The Cycle Shoppe has decided to offer credit to its customers during the spring selling season. Sales are expected to be 330 bicycles. The average cost to the shop of a bicycle is $300. The owner knows that only 93 percent of the customers will be able to make their payments. To identify the remaining 7 percent, she is considering subscribing to a credit agency. The initial charge for this service is $540, with an additional charge of $6 per individual report. What is the amount of the net savings from subscribing to the credit agency? A. $3,790 B. $3,920 C. $4,080 D. $4,410 E. $4,950
MARYJANE, IN., a grocery business, operates a customer loyalty program. MARYJANE grants its program members points when they spend a specified amount of purchases. The points have no expiry date, and they can use the points for further purchases. During 2021, the customers earned 80,000 points, but management expects that 75% of these points will be redeemed. The stand-alone selling price of each loyalty point is estimated at Php 20. The sales during 2021 amounted to Php 6,800,000 on stand-alone selling price. On December 31, 2021, 28,800 points have been redeemed. In 2022, the management revised its expectations and now expects 85% of the points to be redeemed. In 2022, the 12,000 points were redeemed. a. 1,367,481 b. 1,200,000 c. 1,020,000 d. 1,295,238 What amount of the transaction price should be allocated to the groceries?
To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3100, and the average first-year commission for each new account opened is $4600. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account. a. Determine the equation for computing Gustin's profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar. Profit (New Accounts Opened x $ 4600 -$ 3100
A garage band wants to hold a concert. The expected crowd is 2,100. The average expenditure on concessions is $35. Tickets sell for $30 each, and the band's profit is 85% of the gate and concession sales minus a fixed cost of $20,000. Develop a mathematical model and implement it on a spreadsheet to find the band's expected profit.
FB Seller is a high street retailer and has launched a promotional campaign with the following elements: discount coupons are provided to any customers that purchase goods with a total value of over P6,000. The discount coupons entitle the customer to an additional 50% till discount on selected items during the 90 days immediately following the campaign; FB Seller has issued 80 of the 50% coupons to high-spending consumers and took from them P100,000 at the till during the campaign; and based on historical trends, management expects that: 75% of the end-consumers receiving 50% discount coupons will use the coupon; customers using the coupons will spend on average P1,000 at the till; and It will still make a positive margin on the transactions when the coupons are use Assuming FB Seller has decided to use the portfolio approach, on the basis that it reasonably expects that the effects on the financial statements would not differ materially from applying IFRS 15 to the…
Suppose that a sales force has found 20 qualified buyers and has begun the salesprocess. The sales manager estimates that 10% eventually proceeds to make a purchase.Assume that a professional company offers three services, priced at $2,000, $7,000 and$20,000, respectively. Based on past results or the sales manager’s estimates, you projectthat 60% of first-time buyers will choose the cheapest option, 30% will choose the middleoption and 10% will choose the most expensive option. b. How many qualified buyers must be found in order for the company to generate $80,000 in sales in a given period? Your final answer must be rounded to the nearest wholenumber.

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials of Business Analytics (MindTap Course …

Statistics

ISBN:

9781305627734

Author:

Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:

Cengage Learning