Figure 7.31 shows P(t), the percentage of inventory of an item that has sold by time t
Chapter 7, Problem 14(choose chapter or problem)
Figure 7.31 shows P(t), the percentage of inventory of an item that has sold by time t, where t is in days and day 1 is January 1. (a) When did the first item sell? The last item? (b) On May 1 (day 121), what percentage of the inventory had been sold? (c) Approximately what percentage of the inventory sold during May and June (days 121181)? (d) What percentage of the inventory remained after half of the year had passed (at day 181)? (e) Estimate when items went on sale and sold quickly. 60 120 180 240 300 360 50 100 t (days) % of inventory sold P(t) Figure 7.31
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