eighth phase of the business strategy formulation

In the eighth phase of the business strategy formulation, assume that you are the new Vice President of Sales for your organization. 

* You decide that you want to develop a sales strategy for your organization’s highest rated product (Product X). 

*Based on a review of data covering sales of this product over the last 5 years that includes the dollar amounts Product X was offered at, you developed this summary:

 

PLEASE SEE THE ATTACHMENT

 

To complete your business strategy for this phase, provide the following: 

1. Create a scatterplot of the data summary. 

 

2. Suppose you are considering an increase in the base price of $100 to $130. With that in mind, you are interested in how sales move with price in the price range of $135 to $165. How would you form a prediction about the relationship between sales and price in that range? 

 

3. You are also interested in predicting the relationship between sales and price for prices below $100. 

How would you form a prediction about the relationship between sales and price at this price point?

 

SHOW YOUR WORK IN EXCEL AND 

 

IN 300 HUNDRED WORDS How would you form a prediction about the relationship between sales and price at this price point?

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