Decide the optimal pricing

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Question

A health wristband manufacturer hires you to decide the optimal pricing for its wristband. This manufacturer sells its product directly to consumers and collected information on this product's sales and its price, as well as the retail price of a competitor's brand, for the past two years. You find that the weekly sales of the product are indicated by the variable MySales (measured by hundreds of wristbands). The retail prices of the wristbands are indicated by the variable MyPrice. It's measured by dollars per wristband. The prices of the competing product are indicated by the variable CompetitorRetailPrice, which is measured by dollars per wristband.

Reference no: EM134010323

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