# Study sets matching "pricing math"

Study sets

Diagrams

Classes

Users

employee discount

gross profit

maintained markup

markup

A discount offered to workers by their employer.

The difference between sales revenue and the cost of goods sold

The difference between an item's final sale price and its cost

The difference between an item's cost and sale price.

employee discount

A discount offered to workers by their employer.

gross profit

The difference between sales revenue and the cost of goods sold

40%

$11.20

$1.80

Market Share

If the price level is set at 40 margin points, what margin per…

Your typical markup for merchandise is 40%. Your cost on an it…

You own a coffee shop where a cup of coffee costs $2.10. Your…

You own an art supply store and the total sales in your tradin…

40%

If the price level is set at 40 margin points, what margin per…

$11.20

Your typical markup for merchandise is 40%. Your cost on an it…

$5.16

$6.00

More lower priced items were sold

SP = FC / FCP * 100

You make a guacamole dip as an appetizer that feeds four peopl…

Your French fries have a food cost of $1.50, and you want to h…

The average price of items listed on your menu is $5. The aver…

The formula for food cost percentage (FCP) given selling price…

$5.16

You make a guacamole dip as an appetizer that feeds four peopl…

$6.00

Your French fries have a food cost of $1.50, and you want to h…

Fact Family

Inverse operations

Partition

Quotient

a group of related facts that use the same number

operations such as multiplication & division, that undo each o…

a way to divide by sharing one object at a time until the obje…

the answer to a division problem

Fact Family

a group of related facts that use the same number

Inverse operations

operations such as multiplication & division, that undo each o…

Customer Value Based Pricing

value added pricing

cost-based pricing

fixed cost

set price by buyers perception of value

attaching features and serviced to differentiate company

take cost of production into account

costs that do not vary with production or sales

Customer Value Based Pricing

set price by buyers perception of value

value added pricing

attaching features and serviced to differentiate company

Sale Price

Discount

Percent Change

Tax/Tip

The sale price can be calculated by subtracting the discount p…

How much money is subtraced or what percent is on dicount of t…

The amount of money that chages based on markup and markdown…

Tax is usually around 7% of the total which you have to pay wh…

Sale Price

The sale price can be calculated by subtracting the discount p…

Discount

How much money is subtraced or what percent is on dicount of t…

Market Shares

Return on Investments

Break- Even Point

Mark Up Pricing

-add up all numbers given... -divide each competitor by the total…

http://www.calculator.net/roi-calculator.html?beginbalance=.25…

Total Amount of cost and expenses/ Selling Price

Cost + Mark Up= Price

Market Shares

-add up all numbers given... -divide each competitor by the total…

Return on Investments

http://www.calculator.net/roi-calculator.html?beginbalance=.25…

For tonight's concert Harold decided to…

Angela booked a band for tonight. She d…

The stadium can seat 15,000 fans. If th…

If 9,000 fans bought tickets totaling $…

$130,000

$135,000

12,750

$15

For tonight's concert Harold decided to…

$130,000

Angela booked a band for tonight. She d…

$135,000

Price

Price floor

Price ceiling

Value-based pricing

The amount of money charged for a product or service. It is th…

The price below which a company doesn't make any profits

The price above which a customer won't pay

Uses the buyer's perception of value, not the sellers cost, as…

Price

The amount of money charged for a product or service. It is th…

Price floor

The price below which a company doesn't make any profits

To calculate a sales price using a comm…

To calculate a commission rate using a…

= Commission rate

= Sales price

Divide the commission by the commission rate

Divide the commission by the sales price

Commission divided by sales price

Commission divided by commission rate

To calculate a sales price using a comm…

Divide the commission by the commission rate

To calculate a commission rate using a…

Divide the commission by the sales price

rates:

unit rate:

unit price:

Problem solving strategies

compares 2 different units of measurement

comparing something to one

cost of 1 item per = for every

compare little to big, find a pattern, convert fraction to dec…

rates:

compares 2 different units of measurement

unit rate:

comparing something to one

Law of double negation

De Morgan's Law for conjunction

De Morgan's Law for disjunction

Law of negation for the conditional

p <> ~(~p)

~(p ^ q) <> ~p v ~q

~(p v q) <> (~p ^ ~q)

~(p > q) <> (p ^ ~q)

Law of double negation

p <> ~(~p)

De Morgan's Law for conjunction

~(p ^ q) <> ~p v ~q

Variable

Inverse Operations

Counting On

Breaking Apart

symbol or letters that stands for a number

operations that can undo each other

counting up from the lesser number

used to rewrite a number as the sum of numbers to form an easi…

Variable

symbol or letters that stands for a number

Inverse Operations

operations that can undo each other

Positive Integer

Opposites

Absolute Value

Rotational number

the absolute value of a negative integer

Integers that are the same distance from zero but in different…

its distance from zero

Any number that can be written as a fraction

Positive Integer

the absolute value of a negative integer

Opposites

Integers that are the same distance from zero but in different…

Price (how it's different from other as…

Price Ceiling

Price Floor

Exceptions to normal pricing

- Only thing that is not a cost - directly produces revenue... -…

Customer perception of value, maximum you can charge someone f…

Product cost - break even (Competition and other strategic fac…

(grocery stoor, pricing below floor; price low to build a cons…

Price (how it's different from other as…

- Only thing that is not a cost - directly produces revenue... -…

Price Ceiling

Customer perception of value, maximum you can charge someone f…

Ratio

Rate

Unit Rate

Unit Price

A comparison of two quantities by division

A ratio that comparing two quantities with in different kind o…

A rate that is simplified so that it has a denominator of 1.

The cost per unit. Finding the price of 1 "thing".

Ratio

A comparison of two quantities by division

Rate

A ratio that comparing two quantities with in different kind o…

Quadrilateral

Trapezoid

Parallelogram

Rectangle

Any polygon with 4 sides

A quadrilateral with exactly 1 pair of parallel sides.

A quadrilateral with 2 pairs of parallel sides opposite each o…

A parallelogram with 4 right angles.

Quadrilateral

Any polygon with 4 sides

Trapezoid

A quadrilateral with exactly 1 pair of parallel sides.

Life Insurance Pricing

Important when pricing (not reserving)

People who buy annuities tend to be

Someone who bought a policy at age 30 1…

-we will ignore expenses & profit/risk loading ==> focus on ne…

PV of net premiums = PV of claim costs

more healthy

People who bought the policies 10 years ago have higher death…

Life Insurance Pricing

-we will ignore expenses & profit/risk loading ==> focus on ne…

Important when pricing (not reserving)

PV of net premiums = PV of claim costs

Prestige

Horizontal, Vertical and Conglomerate

Penetration

Vertical

Another term for premium pricing is...?

What are the 3 types of mergers?

Which type of pricing offers a low price during its initial of…

This type of merger is when a firm combines with a supplier or…

Prestige

Another term for premium pricing is...?

Horizontal, Vertical and Conglomerate

What are the 3 types of mergers?

fraction

equivalent fraction

improper fraction

simplify

Part of a group or whole: A way of representing a part of a wh…

Representing the same number or amount.... Example: 3/4 and 6/8 a…

A fraction whose numerator is greater than or equal to the den…

To rewrite a fraction as an equivalent fraction with a smaller…

fraction

Part of a group or whole: A way of representing a part of a wh…

equivalent fraction

Representing the same number or amount.... Example: 3/4 and 6/8 a…

fair premium

4 components of fair premium

cost-based prices

risk classification

premium sufficient to cover the insurer's expected claims and…

1) expected claims costs ... 2) investment income ... 3) administrat…

...

the process by which insurers estimate the expected claim cost…

fair premium

premium sufficient to cover the insurer's expected claims and…

4 components of fair premium

1) expected claims costs ... 2) investment income ... 3) administrat…