Managerial Economics: Case 3.1 – Intro to the Whatalot Project

**Follow The instructions on word document attached and provide economics proof-work of how all answers were derived***

For this case, we’re going to do something a little different. We’re about to embark on the analysis of the Whatalot company, which will give us opportunities to do regression analysis and interpretation. But before we do that, let’s use our intuition and common sense to evaluate this company’s situation.

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Read the attached file introducing you to the Whatalot company and look carefully at the data: you have 10 years’ quarterly data with quantity sold, price Whatalot charged, prices charged by three other companies, and how much advertising Whatalot did, along with total revenue, total cost, and profit.

Your task:

Write a paragraph discussing the strengths and weaknesses of Whatalot’s performance over this time period, and discuss the lessons your new management team can learn from the company’s experience.
Come up with a preliminary plan for pricing and advertising that you think will be more successful than the last management team’s strategy (they were just fired, after all!). Do not do any sophisticated analytical work (such as regression analysis); instead, do at most a few “back of the envelope” calculations (or none at all). Later, when we’re done with the Whatalot project, I’ll ask you to compare the results using more complex analytical tools with this more intuitive approach.

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