grocery {pid} | R Documentation |
Simulation of grocery store profits for a single product
Description
The hourly profit made when selling the product at price P
and the product is displayed at height H
[cm] on the shelf.
Usage
grocery(P=3.46, H=150)
Arguments
P |
the selling price of the product. The default amount, if unspecified, is €3.46. |
H |
the display height of the product, as measured from the ground up. The default value, if unspecified, is 150cm. |
Details
This function simulates the hourly profit in a grocery store of selling a particular product.
Two factors can be adjusted by the user to determine the optimum:
-
P
: The selling price of the product (must be a positive value). -
H
: The height that the product is displayed at (must be a positive value).
Can you determine the best combination of conditions, using a systematic method (i.e. not by trial and error)?
Value
Returns the hourly profit made. Random noise is added for some realism.
Author(s)
Kevin Dunn, <kgdunn@gmail.com>
References
Please see Chapter 5 of the following book: Kevin Dunn, 2010 to 2019, Process Improvement using Data, https://learnche.org/pid
See Also
Examples
# Selling at the default settings of price (€3.46)
# and shelf height (150cm):
grocery()
# Let's try selling for a low price, €2.75,
# and put the product 120 cm off the ground
grocery(P=2.75, H=120)
# What happens if the product is too high
# for the average person?
grocery(P=1.25, H=200)
# Can you find the optimum combination of settings to
# maximize the profit, but using only a few experiments?