Quantitative Analysis Research Paper Example | Topics and Well Written Essays - 750 words - 1

Quantitative Analysis - Research Paper Exampleof taste and preferences, time of the year, and stinting changes among other factors and an understanding of occurrence of such seasonal factors and their effects on equilibrium price is needed and is recommended. Times series summary allows for identification of effects of cut and seasonality, that can then be quarantined in forecasting optimal price and is therefrom necessary for effective planning and goal setting. Forecasted seasonality and trend avouchs on expected changes in optimal prices that can be used to retain customers and even draw new customers for a competitive market share. The analysis, based on an organizations data or that of the industrys average and the following equation, can forecast daily or weekly prices for unit of measurement commodities that the eating house could sell.Comparative analysis of cost and revenues is another recommended quantitative best practice for the business. Two approaches inform p rofit maximization and their understanding and use in the business will ensure optimal profitability. The deflexion between total cost and total revenue places obtained profits and can be used to define profitability (Korrapati, 2014). Understanding the maximum level profit that an entity can achieve is more important for cost-effective resource utilization and this identifies the concept of marginal returns. Profit is maximized when marginal cost equals marginal revenues. Data analysis on difference between unit cost of a product and its unit price is therefore necessary for understanding the point of equality. This, however, relies on other practices such as optimal pricing that could use time series and cost accounting into determination of unit cost. The following mathematical equation expresses to optimization point.The mathematical approach can also inform decisions on optimal prices given cost and employment capacity. A restaurant has such capacity limitation to space and number of seats in the restaurant and with a known optimal number